There is an old saying that you get what you pay for. The adage applies to long-term disability insurance as well as to just about every other product and service a person can buy.
The reason to buy disability insurance is straightforward: with coverage, you will get a portion of your income replaced if you become disabled by injury or illness. Unfortunately, far too often we see that people do not get what they have paid for; legitimate long-term disability insurance claims can commonly rejected by insurers.
A recent article on disability insurance points out that the policies specify the amount of time a person must be on leave from work before benefits commence. Policies also state the limits on amounts to be paid and the length of the coverage.
Disability insurance premiums are fixed by the insurer and depend on factors such as risk and type of job a person does. The article notes that for people who are buying insurance on their own (rather than getting it through their employer), it is important to get a number of quotes from different insurers and to carefully examine the policies.
The least expensive policy is not always the best policy. Sometimes a cheap policy will exclude certain kinds of injuries or illnesses and place other harmful limitations on coverage.
The article also points out a crucial difference between workers' compensation and disability insurance: workers' comp covers work-related injuries and illnesses, while disability insurance is not similarly limited.
Every adult should have long-term disability insurance, whether it is through an employer or purchased independently. If you have the coverage but find that your claim for long-term disability benefits has been denied, you can speak with a Milwaukee attorney experienced in helping people get the vital benefits that they have paid for.