Disability insurance companies often implement ambiguous and confusing
wording in their insurance contracts, providing them with multiple ways
to deny or delay approving your disability benefits. After having spent
years effectively fighting for our clients’ rights to disability
benefits, we have a comprehensive understanding of disability insurance law and
ERISA.
We know exactly what to look for in a disability insurance policy, how
to spot weaknesses in an insurance company’s denial, and use these
weaknesses to our client’s advantage. Our long term disability insurance
attorneys have filed lawsuits and successfully fought against all major
disability insurance companies.
What is Disability Insurance?
Disability insurance is a type of insurance policy designed to provide
financial protection to individuals in the event that they become unable
to work due to a disabling illness, injury, or other medical condition.
This insurance is crucial because a disability can significantly impact
a person's ability to earn an income, leading to financial hardship and
potentially affecting their quality of life.
When a person becomes disabled and is unable to work, disability insurance
provides a portion of their pre-disability income as a replacement source
of income. The amount paid out is typically a percentage of the individual's
salary or wages, and it is specified in the insurance policy.
There are two main types of disability insurance:
-
Short-term disability insurance: This type of coverage provides benefits for a limited duration, usually
for a few months to a year. It is designed to cover shorter-term disabilities,
such as those resulting from accidents or illnesses that require a temporary
recovery period.
-
Long-term disability insurance: Long-term disability insurance provides benefits for an extended period,
often until the disabled individual is able to return to work or reaches
a predetermined retirement age. It kicks in after the short-term disability
coverage ends, and it covers more severe and long-lasting disabilities
that prevent the individual from engaging in gainful employment.
Disability insurance policies may vary in terms of coverage, waiting periods
(the time between becoming disabled and receiving benefits), benefit duration,
and the conditions under which benefits are paid. Some policies might
cover only specific disabilities, while others might be more comprehensive,
covering a broader range of disabilities.
Many employers offer disability insurance as part of their benefits package,
but individuals can also purchase private disability insurance plans to
supplement or replace employer-provided coverage. The cost of disability
insurance premiums depends on factors such as the individual's occupation,
age, health status, and the level of coverage desired.
It's important to carefully review the terms and conditions of a disability
insurance policy to understand what disabilities are covered, the waiting
period before benefits are paid, the duration of coverage, and any exclusions
or limitations that may apply. Having disability insurance can provide
peace of mind, knowing that financial support is available if an unforeseen
disability prevents you from working.
Get started on your case today. Call us at
(800) 969-0488 to
schedule a free consultation. Our attorneys are ready to fight for you!
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