Yesterday I was working with a dentist who was referred to me for an individual disability insurance policy. He had previously met with another broker who told him that it would be advantageous working with him since he can help get claims paid. Is that true?
The answer is categorically, NO! Brokers are there to help clients choose the most suitable policy, assist in the application process and service business as changes arise. However, brokers are in no way involved in determining whether or not a claim will be paid. In fact, this could create a significant problem if the claim goes into litigation.
Brokers do not determine whether claims are going to be paid. The company decides this. Brokers can assist in helping the client get the proper paperwork and follow up with the company to ensure that everything is being processed. It is up to the company to evaluate the situation and determine if a claim will be paid.
If you have a broker tell you that working with them will help you get your claim paid, have them put that in writing. That may come in handy if the situation becomes litigious.
