Long Term Disability Attorney
If you are filing for disability, consider contacting a long term disability attorney in Illinois or Iowa that patients trust to assist you with your claim. Long term disability insurance protects employees from lost income if they become unable to work for an extended period of time because of an injury or illness. It is estimated that the average employee with a long term disability loses 2.5 years of income. LTD insurance only offers coverage for illness and injury that occur outside of work. If your injury was work-related, you may be eligible for workers’ compensation insurance instead.
Long Term Disability Insurance Guidelines
Long term disability insurance provides you with a percentage of your income if you are too sick or disabled to work. This insurance is highly valuable for the one in five employees the U.S. Census Bureau estimates as having a chance to become disabled. LTD insurance is typically offered by employers as part of a comprehensive benefits package. If the company does not offer LTD insurance, you may have the option of purchasing an individual long term disability plan directly through an insurance company. If your employer’s provided LTD insurance plan does not meet your financial needs, you may choose to purchase supplemental insurance as well. It is important to note that payments from your employer’s LTD insurance plan are taxable, while payments from a plan you purchased yourself are not. If your employer refuses to cover a disability that you believe should be covered by your plan, consider contacting a long term disability attorney in Illinois or Iowa.
Long Term Disability Coverage
Once your short term disability insurance benefits come to an end, typically after three to six months, your LTD insurance can set in. Most long term insurance plans pay a portion of your salary, usually between 50 and 70 percent. LTD payments may only last for a defined period of time, typically from two to ten years. Other plans will make payments until you are 65 years old, or retirement age. Each LTD insurance plan differs when it comes to the conditions that must be met before the company will payout on the policy. Some diseases and pre-existing conditions may be excluded. Some policies will only cover employees who are no longer able to work any job, while others will offer payments to any employee who is unable to perform his or her specific job. LTD insurance is an integral part of most competitive employee benefits packages as it can provide long-term security in the event that you are no longer able to work due to accidental injury or illness. Experts explain that LTD insurance is equally as important as life insurance. If your employer’s policy does not offer the coverage you need, it is your responsibility as an employee to purchase expanded coverage if necessary. In some cases, expanded coverage may be offered at a lower rate through your employer’s insurance carrier.
Contact a Long Term Disability Attorney in Illinois or Iowa
If you were injured in an accident or developed an illness that has made it impossible for you to continue to work, LTD insurance may make it possible for you to receive a portion of your salary. Employers may have stringent guidelines as to the disabilities they will and will not cover under a long-term insurance plan, so it is important to thoroughly research your employer’s policies. If you are having difficulty getting the LTD insurance you believe you are entitled to, contact VanDerGinst Law, P.C. today at (866) 788-5297 to speak with a long term disability attorney in Illinois residents know and trust. Our team of long term disability attorneys are licensed to practice in Illinois, Iowa and the federal courts. We have handled and can handle serious cases all over the country. No matter where you reside VanDerGinst Law can help you.