Long-Term Disability Benefits
A permanent or long-term disability can be devastating to you and your family, stripping you of your ability to make a living. Some people can get through a few months on savings, but few people can afford to stop working altogether for an extended period of time. That's when your long-term disability (LTD) insurance benefits become important. LTD policy benefits are supposed to provide you with income for a long period of time. Our long-term disability insurance attorneys at Eric Buchanan & Associates, PLLC frequently help disabled workers understand and collect the benefits due under their private or employer-supplied LTD insurance.
LTD Insurance Benefits Basics
As LTD attorneys with extensive experience in protecting the rights of the disabled, we are very familiar with the provisions of LTD insurance policies and the legal issues that arise around them, including:
- Definition of disability—Some policies pay when you cannot perform the duties of your normal occupation, but others pay only if you cannot work in any job at all.
- Payment trigger date—Policies require certain waiting periods until the benefits payments begin.
- Extent of disability—You may have to be totally disabled before benefits payments begin, but sometimes you can collect for partial disability benefits, depending on the policy.
- Residual benefits—These benefits apply if you are able to work but are limited in your duties due to your disability and are offered under some policies.
- Presumptive disability—If you have a loss of sight, speech, hearing, or use of limbs, it is sometimes possible for you to collect even if you are able to work.
- Length of coverage—Some policies pay benefits only for a limited period, often two to five years or until you turn 65.
- Inflation—To keep pace with inflation, your benefits may include a cost-of-living adjustment, depending on the policy.
- Waiver of premium—In most cases, LTD policies contain a waiver-of-premium provision so that you do not have to pay premiums if you are disabled for 90 days or longer.
- Partial disability—If you can still work, but only at a job that pays much less, the insurance benefits will be adjusted proportionally if the policy offers a partial disability provision.
Contact us About Your LTD Issues
A dedicated long term disability insurance attorney from Eric's team will be happy to discuss any of these issues with you. For more information and assistance in collecting the full benefits from your insurance coverage, contact a long term disability attorney at Eric Buchanan & Associates, PLLC today.
