If you are let go from a job, you may be offered a severance agreement. Before signing anything, you should consider the potential implications of the agreement and its impact on your ability to obtain certain financial benefits. For example, signing a severance agreement could prohibit you from filing a disability insurance claim.
If you have questions or concerns about the scope and terms of a severance agreement, contact an experienced NJ disability benefits attorney. An attorney can assist by reviewing the terms and scope of the agreement, along with your disability insurance policy to help you better understand the impact and enable you to negotiate a more favorable agreement.
How a Severance Agreement Can Adversely Impact Your Access to Disability Benefits
If you are disabled due to a health issue, your company or organization may offer you a severance agreement. You may be tempted to accept the agreement (oftentimes because these agreements include a large severance payment). However, many severance agreements contain terms and provisions that could effectively waive your right to pursue a legal claim against your employer (including the right to pursue disability benefits).
While agreeing to a severance package may seem like a prudent decision in the short term, there is a real risk that – over time – the adverse terms in the agreement may actually cost you a significant sum of money (especially if you are required to waive your right to file a disability insurance benefits claim pursuant to the agreement).
Contact an Experienced Disability Benefits Attorney in New Jersey Before Signing a Severance Agreement
It can be tempting to sign a severance agreement without examining it closely or talking to a lawyer — particularly when you are already dealing with health issues. The potential for a payout or continuation of certain benefits can be alluring, especially when you are physically unable to continue working on your chosen profession. Nevertheless, agreement to the term can lead to a waiver of notable legal rights, like the ability to claim disability insurance benefits.
Bross & Frankel represents individuals in both New Jersey and Pennsylvania who are unable to work due to a disability. We aggressively advocate for our clients, which often includes helping them negotiate the terms of a severance agreement so that they are still able to file a disability claim. Contact us today at (866) 860-5623 or online to learn more or to schedule a free initial consultation
