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What is long-term disability insurance?

Regardless of your age, there is a chance that you could become disabled either through an accident or due to a medical condition. To help plan for your future and ensure you can still take care of your obligations in Texas should you become disabled, you have the option of getting long-term disability insurance. 

According to Insure.com, long-term disability insurance is designed to offer you an income when you cannot work. You can often this insurance as part of your benefits package at work, but you also can buy it privately.

The coverage generally is provided once you have exhausted any short-term benefits. This is usually about three to six months after you have to stop working. While your benefits do not pay you 100 percent of your normal wages, they may pay up to 60 percent. You may also get partial benefits if you are only partially disabled. You may continue getting benefits until you reach normal retirement age. Exact details depends on your policy. 

You should review your policy to make sure how much you are entitled to. Your policy will also explain how long you will receive benefits. It should also explain if you have to pay taxes on your benefits or not. Usually, if you get your insurance privately, you will not pay taxes, and if you get it through an employer, you will pay taxes. 

Your insurance company will probably try to help you return to work. It will work with your employer to help secure accommodations or to work out an agreement so you can return to work. This information is for education and is not legal advice.

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