Texas residents often purchase long-term disability insurance for the comfort of knowing they and their family will be taken care of financially in the case of an unexpected injury or illness. Everyone hopes they will not ever need to use this type of insurance, but life is unpredictable, and applying for long-term disability may become an unfortunate necessity.
Qualifying for benefits
There are several things to consider before submitting a long-term disability application. First, you must determine if you qualify for long-term disability benefits. Eligibility requires a certification of total disability from an approved practitioner, and an approval for benefits by a third-party administrator.
Additionally, you must complete a required waiting period before you can begin receiving your benefits. This waiting period is either 180 days (6 months), or until you have used up all your available sick time, whichever is longer. The 180-day period may run while you are using your sick time.
How much can you expect to receive, and for how long?
Next, you will likely want to know how much of your salary you will receive, and for how long. In Texas, the monthly benefit amount depends on your salary, with the maximum amount being 60% of your salary. Your total income will be considered in determining the monthly benefit amount, so if you earn income from any other source, this could affect the monthly amount.
The length of time you receive the benefits depends on your age. Your benefits will last either until you can return to work or until you become eligible for Social Security benefits, whichever comes first.
Qualification and your monthly amount of benefits depends on your specific circumstances. The application process requires submission of various documents and forms, which can be confusing and frustrating if you are dealing with an illness or injury. Pursuing guidance from a professional can be a tremendous benefit, allowing you to focus on your health and recovery.
