Long Term Disability
What is Long Term Disability?
A serious disability that prevents you from working for an extended period of time is referred to as having a long term disability. In most cases, long term disability benefits are paid out using funds from an insurance policy for long term disability or from the Social Security Disability Insurance program.
A disability that lasts for a long period of time can have a variety of effects on a person’s life. It’s possible that the disability was brought on by an illness or an injury, like one sustained in a car accident or some other type of personal injury incident. In this instance, there are laws that are in place to protect people who have a disability.
Examples of Different Types of Long Term Disabilities
In order to be classified as having a long term disability, an individual must be unable to work as a result of a medical condition or injury. If you are still receiving pay from an employer, it is highly unlikely that you will be eligible for any kind of long term disability insurance coverage.
There is a long list of conditions that, if you meet certain criteria, can be considered to be a long term disability. These may include any of the following:
- Brain Injuries
- Heart Disease
- Back Injuries
- Neck Injuries
- Chronic Pain
- Mental Health Issues
- Rheumatoid Arthritis
These are only a few examples, and by no means do they constitute a complete list. The most important thing to consider is whether or not the condition prevents you from doing work for an extended period of time, whether it be your typical line of work or a new job.
If you fit that description, you might be able to submit an application for some form of disability insurance. This insurance is designed to give you regular benefits to help cover the cost of living expenses.
Talking to an attorney who specializes in long term disability claims is the best way to find out for sure whether or not your condition makes you eligible for disability insurance.
Differences Between Long Term Disability Insurance and Social Security Disability Insurance
In the event that you become disabled as a result of an illness or injury, disability insurance will protect you against a reduction in your income. A significant number of employees either receive disability insurance through their place of employment or independently purchase it.
Any coverage you obtain privately is almost always in the form of long term disability insurance. If you are the owner of this policy and become disabled at any point in the future, this insurance will continue to provide you with benefits, also known as a regular income, for a set number of years. It is typically very simple to qualify for, and it will provide coverage that is very similar to that of your regular income.
One disadvantage of private LTDI is that it can be quite pricey to maintain. There are a number of premiums that can be up to between one and three percent of an individual’s annual income.
The Social Security Disability Insurance program is the alternative choice for coverage in the event of a long term disability. The Social Security Disability Insurance program is one that is run by the federal government and is funded by Social Security taxes.
SSDI is, therefore, available to almost every worker in the country. If you become disabled, you should most certainly apply for Social Security Disability benefits. On the other hand, the Social Security Administration, which is in charge of processing SSDI claims, adheres to a stringent set of guidelines when determining what constitutes a disability and who is eligible for benefits.
In order to be eligible for Social Security benefits, you need to be able to provide evidence beyond a reasonable doubt that:
- Because of a medical condition, you are unable to work and will continue to be unable to work for an extended period of time (for at least a year).
- Have accumulated sufficient “work credits” and a track record of making Social Security contributions.
This may appear to be straightforward; however, a large number of workers fall into a gray area that makes it challenging to obtain approval. In addition, the process of appealing a decision of denial can take many years. Because of this, we always advise speaking with a Social Security Disability attorney who can assist you in improving your application and increasing your chances of being approved for benefits.
You might be eligible to receive benefits from both types of long term disability insurance depending on the circumstances of your case. The majority of insurance providers will require you to also submit an application to the Social Security Administration for disability benefits in addition to their coverage.
If you apply for and are granted Social Security Disability Insurance, it can work toward offsetting the cost of the long term disability insurance. It is in your best interest to investigate every option and have a discussion about your situation with an experienced legal professional.
In the event that you are unable to work due to a long term disability, receiving insurance benefits can assist you in continuing to pay your bills and provide for yourself and your family. Our legal counsel can be of assistance by listening to your circumstances and discussing possible courses of action with you.
Contact our law firm to schedule a free consultation if you need help with Social Security Disability benefits.
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