ERISA LTD Point of Sale
Location: Florida
Recently I became disabled and transitioned from Short to Long Term Disability. During my enrollment and starting work with my employer, I was offered 4 options:
50% for 5 years
60% for 5 years
50% until age 65
60% until age 65
Enrollment was completed via guided intranet during orientation. There were no warnings, disclaimers, footnotes, or links to reference for limitations or capped amounts. Over the years working I had specifically reached out to ask for a copy of the policy or SPD which was never supplied.
Now, as I move to Long Term Disability, I am being told that the actual amount is significantly less than the coverage I purchased. (approximately 30%).
The few ERISA lawyers I have spoke with seem to be more comfortable litigating a benefit that has been denied for medical reasons, not the point of sale issue I’ve run into.
The next question from a prospective lawyers is: “What does the policy say?”
When I reply with “I wasn’t given a copy of the policy until long after I had already become disabled”, their answer is “the judge will honer the policy, you do not have a case”.
Does ERISA not specifically govern this? How can I be held to documents I was not provided and point of sale representation which I reasonably relied upon that clearly misled? How is clearly advertising a policy at 60% of pre disability income then paying out around 30% not bait and switch? Does this not violate the duties of a fiduciary? Even if I was provided policy or SPD documents (which I was not) how would a normal person know to even think to look for an item that decreases the coverage by almost half?
Thank you in advance for the help.