When you need help understanding disability insurance, a knowledgeable short term disability lawyer can be a huge asset. The purpose of short-term disability (STD) insurance is to replace part of your income for disabilities such as non-work related injuries, illness, or maternity leave. Its other purpose is to provide income between the occurrence of your disability and the time your long term insurance coverage begins.
Short-term disability policies commonly include terms regarding what percentage of salary the plan pays, and how long the benefits last (most policies cover from 3 to 6 months, but the term could be longer).
Long-term disability (LTD) insurance typically takes over after short-term coverage ends and the policy will spell out how long you may receive benefits (check your policy for specifics).
Other crucial information, that seems simple, but may not be, is:
At the beginning of this article, we listed the types of short term disabilities:
Depending on your company’s benefits practices, you may have to use all personal time before you can apply for short-term benefits. This condition varies from company to company.
A short term disability benefit is a percentage of the regular wages you receive during the time you’re out of work. STD usually lasts 3 to 6 months. What if at the end of that term you aren’t able to return to work? LTD insurance takes over and pays you if your disability will last an extended period, or if you have a permanent disability.
With both short and long term disability insurance, there is a waiting period before benefits begin. STD typically starts within days of the injury. The waiting period for LTD is more extensive than the waiting period for short term disability, usually weeks or months. Disability payments are generally paid on a monthly basis.
As a reminder, short term disability usually lasts 3 to 6 months. The waiting period for long-term disability benefits may require that you exhaust your STD benefits. LTD insurance may continue during a long recovery period, or until you’re eligible for retirement benefits.
Life is unpredictable. You may experience a recurrence of a STD. Or what you expected to be a short term disability may progress into long term disability. If your condition is severe or permanent and prevents you from returning to work and have received benefits under your short term disability coverage, LTD is the next step.
It’s critical to keep good records that detail:
Since these claims will cost insurance companies more money, you could be vulnerable to unfair practices. It’s not unusual for insurance companies to delay paying LTD benefits, or worse, trying to deny claims altogether. Don’t give up. You deserve to receive the benefits the law entitles you to.
Facing a disability can be challenging enough without fighting with an employer or insurance company. This is the time when you should consult with a disability lawyer. Even short term benefits may be denied to you when you qualify for them, so don?t hesitate to get in touch with a short-term disability lawyer.
When you lose wages, even for a short time, it can be devastating to you and your family. If your employer or insurance company delays the payment of your benefits, in the hopes that you’ll give up, you need to fight back. If you meet the terms of your health insurance policy, the law entitles you to receive benefits.
At CJ Henry Law Firm, we can advocate for you to get you the disability benefits you deserve. Contact us today to speak to an experienced short term disability lawyer.