How Do I Pay My Bills? Financial Options to Consider While Waiting for Your Insurance Settlement to Come Through

How Do I Pay My Bills? Financial Options to Consider While Waiting for Your Insurance Settlement to Come Through

By Shira Bernholtz B.A., LL.B.

Client Services Lawyer, Share Lawyers

The obvious answer to this question is that you need a source of income. But what happens when you are medically unable to work and the insurance company refuses to pay you benefits on the long-term disability policy? The long range solution is to retain Share Lawyers to fight the insurance company decision and win a settlement payment. There are, however, a number of short-term options, besides accumulating debt or high credit card balances.

First, be sure you have made all possible claims: employment insurance sickness benefits, short-term disability plan payments, Ontario Disability Support Program, Canada Pension Plan for disability, insurance taken on loans (including mortgages) and other debts (especially credit cards) or life insurance premiums coverage.

Timing of the application can be crucial. Obtain all necessary forms immediately so you can take the time needed. Once submitted, follow-up with a call or visit the local office to ensure the file is in process. And always keep copies of the documents and reports submitted.

Secondly, do you have non-core assets that can be sold? An investment property, unworn jewellery, sports equipment you can no longer use? What about a recreational vehicle?  Further, can you downsize to reduce or even eliminate some monthly costs?

We realize that these are often painful actions. And they take a toll on your scarce energy. Just keep repeating that being proactive and facing the monetary issues is much less stressful than having to react to an immediate crisis.

There is also the possibility that you may qualify for social assistance payments.

None of these scenes are pleasant nor fun. Try to remember that the financial problems are secondary to the real concern – that you are medically unable to work. The reasons for your lack of funds are beyond your immediate control. There is a resolution at the end of the tunnel. The hardest part can be making it through.

Has your disability insurance claim been denied? Contact Share Lawyers and put our experience to work for you.

All initial consultations with our lawyers are free and there are no fees until we win your case.