According to the Social Security Administration, around one in four Americans will face some kind of disability before retiring. And on average, a disability will prevent someone from working for close to three years.
A disability that prevents you from working can cause a significant financial strain on your life. Not only will you have medical bills to treat your disability, but you will also not receive a steady paycheck to cover the cost of living. When a disability prevents you from working, long-term disability insurance can supplement your income.
Long-term disability insurance covers income
Most employers will offer you long-term disability insurance as a part of an employee benefits package. If you become disabled and cannot work, the insurance benefits kick in, covering anywhere from 40% to 70% of your income. This coverage makes sure you can still pay your bills while your disability prevents you from working.
Proving disability can be difficult
Long-term disability can be an important coverage to help you supplement your income while you can’t work. But proving a long-term disability insurance claim can be difficult. Insurance companies have strict guidelines for proving your disability.
Long-term disability should kick in when any disability prevents you from working. Common disabilities can include illnesses like cancer, injury-related disabilities, and even mental illnesses. But the insurance company will require you to prove that the disability will prevent you from working for an extended period of time. Otherwise they will deny the claim. Consulting an attorney may help you in appealing your denial to receive the benefits you need.
Financial help when you need it
When an illness or injury keeps you from working, you need financial help to pay your bills. A long-term disability insurance plan can make sure that you receive the money you need to survive.
