A mortgage disability insurance policy provides security in the event the debtor is injured and receives a disability that prevents him from working. If your disability is temporary, the mortgage insurance can pay your payments during the time of disability (known as the claim period). If your disability is permanent the insurance company may pay off your debt.
Step 1
Notify your creditor.
Step 2
Contact the agent who sold you the policy or go to the website of your insurance company. If you purchased your insurance through the creditor, it will provide you with the insurer's contact information.
Step 3
Secure the proper paperwork either from the agent or from the website.
Step 4
Complete the paperwork in a neat and legible manner. Fill in all questions accurately. If you are unsure about a question, ask your agent.
Step 5
Provide medical documentation about the disability and explain how this disability specifically prevents your ability to work. Never assume the insurance agency is familiar with the impact of your disability.
Step 6
Request a letter from your doctor about your disability and request he include an impact statement. You may need to tell him how the disability affects your job if he is unfamiliar with your industry. Never assume your doctor knows the details of your job. Specific statements on claims reports are better than overview statements.
Step 7
If your claim is denied, you may seek legal services to file an appeal.
Step 8
If your claim is accepted, complete additional forms periodically. Your insurance company may require you to send in additional forms throughout the claim period. Be sure to do this in a timely manner, or the insurance company could close the claim and stop making payments.
Tips and Warnings
- Don't make vague comments about your disability. Be specific. For example, don't say, "I have a broken leg." Instead, say, "I have a broken leg that requires surgery and a six-month recovery period, which prohibits me from working during this time." Some policies may not appreciate a "broken leg" as a disability without the supporting evidence of why you will not be able to work with the ailment. Be honest when providing information on your claim. Keep a file of addresses along with a list of the forms to be mailed to those addresses. Some insurance companies can have multiple offices. Write down the name of the agent or case manager you are working with. Use him or her as a contact person for each question you have. Make copies of all claim forms before you submit them to the insurance agency. This will protect you in case your claim is misplaced. Mail forms and correspondence in a manner that can be tracked. In-person delivery should be documented by having your copy signed and dated by the recipient of the company's copy.
- Never misrepresent your claim information. This could result in a denial of coverage.
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