Illness or injury can keep anyone from working for days, weeks, or longer causing a drop in income. Disability insurance was created to provide income when an insured is not able to work because of a disability. There are two forms of disability insurance – short-term and long-term. If you have been injured or become ill, you need to know the difference between these two types of disability insurance programs.
Short-term disability insurance is the most utilized and is usually offered through a group policy. Generally, you can start to receive short-term disability benefits shortly after a medical condition prevents you from working. Short-term disability insurance is available as a 3-month to 2-year benefit period.
Long-term disability insurance can be purchased with a 2, 5, 10-year or longer benefit period. The approval process for long-term disability benefits can take months. Permanent disabilities or medical conditions usually qualify for long-term disability benefits, if they prevent the insured from performing the duties of his or her occupation or depending on the policy language, any occupation for which the insured is qualified to perform. The policy language in these policies is critical.
The majority of disability insurance policies require that you are disabled for a certain length of time before you are eligible to receive benefits. The benefits that you will receive will be a percentage of your average salary.
Often disability insurance claims are denied.
The article, Short-Term vs. Long-Term Disability Insurance, has more information on this subject.
You can reach Miami Long Term Disability Insurance Claims Lawyer J.P. Gonzalez-Sirgo by dialing his direct number at (786) 272-5841, calling the main office at (305) 461-1095, or Toll Free at 1 (866) 71-CLAIM or email J.P. directly at [email protected].