How Will Sun Life’s Acquisition of Assurant’s Employee Benefits Business Impact Group Disability Claims?
Insurancenewsnet.com is reporting that Sun Life Financial, Inc. has completed its acquisition of Assurant, Inc’s U.S. employee benefits book of business. This includes group disability administered by both Assurant and Disability RMS. Disability RMS will continue to operate as a business unit within Sun Life. The actual business taking over the Assurant book will be Sun Life Assurance Company of Canada, a major player in the group disability insurance/Long Term Disability market. We will see how this impacts disability claims that are currently being considered or paid by Assurant.
Based on how the two insurers treat our clients, there is a legitimate concern that anyone who is receiving disability benefits currently from Assurant will see their claim scrutinized much more by Sun Life. In our experience, Sun Life is much more aggressive at challenging and denying Long Term Disability claims than Assurant and Disability RMS.
Sun Life likely sees the acquisition as a way to get market share, because it makes them the 6th largest insurance company in the employee benefits sector. They now cover over 60,000 U.S. employees with various group benefits.
We hope that it does not trigger a series of denials or terminations as Sun Life Financial seeks to make the new book of business more profitable. Only time will tell.
To see the original story at its source, visit Sun Life Acquires Assurant’s Employee Benefits Business.
If you have questions about your Assurant or Sun Life disability insurance claim, please call ERISA attorney John Tucker at (866) 282-5260 or complete the TuckerDisability.com Online Contact Form. Mr. Tucker is a nationally recognized employee benefits attorney who represents individuals in group disability insurance claims.