No one wants to consider the possibility of becoming severely ill or seriously injured, resulting in the ability to work; however, it is a possibility for any working adult in Texas and elsewhere. Thus, when one is met with this troubling fate, it is imperative to understand the role long-term disability benefits play, as well as the ups and downs one could face during the claims process. Because it is already a trying time, it is vital one fully explores this process and how best to navigate it if any obstacles are encountered or a claim is denied.
The importance of long-term disability insurance
The average working age person, meaning those between the ages of 25 and 65, is six times more likely to experience a disability that renders them unable to work for 90 days or more than they are at risk of dying. In other terms, it is imperative to be prepared for a disabling injury. This makes having disability insurance a must, especially for those considered financially responsible and those that have loved ones that are dependent on his or her income.
What can disability insurance do for you?
Having disability insurance means that in the event of an injury, illness, disease or a health-related condition that requires treatment, such as mental illness or a substance abuse disorder, a certain percentage of one’s income will be paid to them. This type of insurance is often referred to as paycheck protection, as it protects one income in the event that one becomes disabled and unable to work for a period of time.
The fine print
The ability to experience the protections provided by a disability policy means fully understanding the policy. The fine print will include the terms of the policy, such as terms and understanding when and how one is truly insured.
Other fine print items to pay attention to is what is considered pre-disability income, whether it covers duties performed in the individual’s own occupation or any occupation and the length of time benefits are paid. Additionally, one should note the impacts Social Security Disability benefits could have. For most policies, the benefits are offset by any SSD benefits received.
Whether you are seeking to file a claim for long-term disability insurance benefits or are dealing with a denial after filing a claim, it is vital to fully understand your situation and what options you have. It may be possible to take action to prove eligibility and obtain the benefits owed to you.
