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Will disability payments be made if my company ceases to exist? District of Columbia

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  • Will disability payments be made if my company ceases to exist? District of Columbia

    HELP!! I have been on short term disability for several months and this morning's newspaper indicated that my company will dissolve in two months. My physical problems are so bad that I feel I will need long term disability (if not permanent disability) -- is the insurance company obligated to pay me even if my company no longer exists? The insurance premiums for this coverage were paid for over ten years and I would imagine that they should pay me no matter what the state of my company is. What do you suggest I do if they say they will not pay the ltd??
    Thanks!

  • #2
    It's going to depend on the terms of the disability policy; however, in 999 cases out of 1000 the benefits would continue regardless of the company status.
    The above answer, whatever it is, assumes that no legally binding and enforceable contract or CBA says otherwise. If it does, then the terms of the contract or CBA apply.

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