Carol Perry: Be sure to protect your saving and investments

As a former financial planner, I would often tell a client to insure the risks that could derail their savings and investing efforts.

Disability insurance was often on the top of my list of suggested coverage. Losing your income before you have fully saved for retirement is devastating to your nest egg. I would recommend that if a client could afford it, to buy disability insurance either through a group plan with their employer or a private policy. And I practiced what I preached. Little did I know about some of the often underhanded tactics insurance companies use in order to deny a claim.

First, if your claim is denied, contact an attorney that specializes in disability claims. I do not recommend that a person that is already stressed from losing their livelihood and their health try and go it alone.

From my own personal experience and talking with doctors and attorneys I discovered that insurance companies often deny initial claims hoping that the claimant won't fight the denial. This works as people may not have the funds or the desire to fight a large insurance company. If you do decide to fight there are some things I think you should know.

First, a claims examiner, who may not be versed in your condition could decide that you do not meet the companies' definition of disability. Even the severely disabled can be denied benefits on a technicality. Your insurance company also may use their own paid medical consultants and investigators. These people do not work for you so remember to protect your interests by not signing forms or giving interviews allowing free access to your medical records or credit reports.

Bottom line here is that just because your doctors say you are disabled, that does not mean your insurance company feels the same.

Just keep in mind one thing when filing a disability claim, insurance companies exist to make money for their shareholders so if you are denied benefits,writing them letters and being nice will get you nowhere.

If you are truly disabled, get help from a qualified attorney, keep your premium payments current, and do not back down. Perseverance is not what your insurance company is counting on.

- Carol Perry, a Northern Nevada resident since 1983. The opinion expressed are her own and may not reflect that of AWA Wealth Management or LPL.