Disability Insurance
The disability insurance coverage is increasing day-by-day. The insurance policies cover all types of disabilities leading to incapacity to do work and earn. Private disability insurance comes in two forms short-term and long-term disability insurance.
What is the difference between Long-term Disability and Short-term Disability Insurance?
The long-term disability insurance policies provide longer coverage, but are typically not triggered until a person has been out of work for at least 90 days. Under this long-term policy, a person is paid a percentage of what he or she was earning while employed this percentage varies from policy to policy. The long-term insurance cover helps you to get the benefits till you are fit to work or become eligible for retirement benefits.
Generally, long-term disability insurance will provide you long-term benefits for a minimum of five years and maximum till you are 65 years old. After your turn 65, you are liable to get the Social Security benefits from the government. And then your contract with the long term disability company ends.
The long-term disability insurance is not easily available like the short-term insurances. They are provided by very few companies and are very expensive, typically requiring an employee contribution.
But if you are self-employed, you can buy a disability insurance policy on your own through an insurance agent. You can individually buy any long-term policy from any of the companies that offer long-term insurance coverage.
Short term disability policies are very common and typically pay a person who is injured or sick for 90 days. If the person is unable to return to work after 90 days then if available they can file for Long-term disability benefits. It they are not available then there may be a possibility of Social Security Disability Benefits or Supplemental Security Income. The attorneys at Homan & Sullivan, P.C. are experienced in all types of disability matters and can counsel you in what options may be available to you.
Is it very easy to get the benefits?
The straight answer to this much-asked question is "No." That's because it is a very complicated process and if you go wrong, the chances of denial are very high. Therefore, it is ardently suggested that you approach a long-term disability claim lawyer. He can help you get the benefits without much trouble.
The lawyers at Homan and Sullivan, P.C. are experienced and we can file the cases very accurately. So, the insurance firms find no excuse for rejection. We are well acquainted with the disability insurance companies and their criteria to reject. The attorneys at Homan & Sullivan, P.C. will assist you in this process and will guide you towards receiving benefits.
What if I was injured on the job or in the course of my employment?
If you are injured while on the job, or in the course of your employment, you may also have a worker's compensation case it is important to contact us right away so we can help you receive all the benefits you are entitled to. You can receive both worker's compensation and long term disability benefits let us show you how you can maximize your income during these difficult times.
Many people also purchase disability insurance when they take out mortgages or auto loans, the attorneys at Homan & Sullivan, P.C. are always on the look out for all possible benefits available to you. Please contact us so we can begin helping you.
