Well – it depends. If you are a Louisiana doctor, dentist, small business owner, accountant, lawyer, or another professional with an individual disability policy, you may.

If you have group long-term disability coverage, your employer probably has already provided the information or minimal information may only be required.

Your policy will include specific information about what you are required to provide.

It is important for you to read your policy thoroughly if you have not already done so. The policy will have specific provisions concerning information that you are obligated to provide. Some big issues you may run into are discussed below.

The Financial Documents Are Complex

If you are a business owner or medical professional with an Individually Owned Disability Policy, the disability insurance company will likely require your financial documents is going to want to go through your finances in great detail. But what will they need? Your tax return only, or other financial statements like income statements, balance sheets, etc.?

Simply put, your disability insurance benefits are usually based on your monthly income – so the disability insurer needs to figure that out to pay the benefits. They will not simply take your word. Disability Insurers often send broad requests for financial documents and tax returns for the past five years. In some cases, they may want to go back further, and some disability insurers are known for requesting financial audits in certain situations.

Do You Have To Allow Your Financial Professionals to Speak to the Insurer?

The disability insurer may also ask you to provide an authorization allowing them to obtain records from your accountant, bookkeeper, tax preparer, or other financial professional. Again, depending on your policy, this may or may not be necessary. Generally speaking, however, you are required to cooperate with the insurer’s investigation of your claim. You may be able to limit what is requested, but that will be policy-specific.

If you have questions about the types of financial records that your disability insurance company is entitled to receive under your policy, please call our office today at 985-240-9773 to get answers from a long-term disability lawyer.

Loyd J. Bourgeois
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Accident, injury, and disability attorney serving Luling, Metairie, New Orleans, and South Louisiana