The Occupational Safety & Health Administration reported that 4,821 employees were killed on the line of duty back in 2014, which is an average of over 92 per week or over 13 deaths daily. Since the 70s, employers have put in place measures to safeguard the health of workers. But still, unforeseen illnesses and injuries occur all the time. In addition, the Council for Disability Awareness states that long-term disability accounts for an absence of 34.6 months on average. Most illnesses and injuries happen due to cancer and musculoskeletal injuries. Therefore, employers should implement a long-term disability insurance program to protect workers and make sure they take a realistic amount of time to return to work.

An overview of long-term disability (LTD) insurance

This form of insurance covers approximately 50 to 70 percent of an employee’s income when he is suffering from an injury or illness. However, the worker’s compensation does not cover employees injured off the job. When you cannot offer your services for a lengthy period, the long-term disability insurance chips in and covers a certain portion of your salary. It kicks in once the short-term disability plan is exhausted. A long-term disability policy becomes effective about 10 to 53 weeks after a valid event.

Do you need a long-term disability attorney?

If you are unable to work and have a long-term disability plan, you should seek the services of a  long-term disability lawyer as soon as possible to increase your odds of success. An unrepresented disability applicant will experience many challenges when it comes to filing a disability claim, particularly when the insurance is covered by an employer-provided group.

A single missed deadline, incorrectly filled form, or inaccurately pronounced word to a claims adjuster can compromise your long-term disability benefits. A lawyer will act as your representative in matters concerning long-term liability insurance. He will engage with the LTD administrator on your behalf, ensure application and appeals are filed on time, carry out settlement negotiations, and file a lawsuit in court if necessary.

Who is responsible for paying for the long-term disability plan?

Today, there are a few options on who can fund a long-term disability policy. In the recent past, numerous companies took the responsibility of paying the full amount for the LTD insurance. Currently, the options on who can pay have expanded.

Is a long-term disability plan important?

The strongest argument in support of LTD insurance is that it significantly minimizes the risk of financial difficulty if an injury or illness prevents you from working for at least six months. A long-term disability lawyer will streamline the process of filing your claim and receiving your benefits. Other advantages of long-term liability plan include:

  • LTD insurance does not come with restrictions on how you decide to spend your money
  • It does not attract interest or penalties
  • Tax-free
  • It keeps your retirement savings intact

Your ability to work and make money is one of your most important assets. A good long-term disability insurance will offer you financial protection even when disability hinders you from working.