Disability Insurance – The Long and Short of It
Life happens and it’s never predictable, making it difficult to plan for the trials and tragedies that come our way. Sadly, good health and well-being are not guaranteed. This is where disability insurance comes in. Accidents happen and poor health finds us. Thankfully, we can purchase insurance to protect ourselves long- or short-term.
What does disability insurance cover?
In the unfortunate circumstance that we are temporarily unable to work, short-term disability insurance will replace wages as a temporary provision until we are able to return to work and resume our responsibilities. When an illness or injury prevents us from returning to work altogether, long-term disability insurance comes into effectas a permanent income replacement.
Short-term disability insurance replaces wages when we are temporarily unable to work due to injury or illness. Long-term disability insurance provides financial coverage long-term. It affords a more permanent income replacement when a medical condition prevents you from working altogether.
For the most part, disability claims are not dependent on a strict set of criteria and when an injury or illness prevents us from doing our jobs to earn wages, we look to long-term disability insurance.
In a perfect world, this would be a seamless process, but sometimes insurance companies try to find loopholes and attemp to reassign people to another job within the scope of their training and education.
Since every insurance policy is different and some exclude different types of injuries, it is always wise to read a policy carefully before investing in and accepting its terms.
When do you start a disability insurance claim ?
When accidents and illness happen, it is wise to start a claim straight away. Sometimes it can take time to resolve the details while insurers work to determine what the injured are entitled to. There are cases where a disability can be more complex and the injured party will have to make a case about the severity of the disability and its impact on the his/her life.
If you are ill or injured, make sure that you keep records of all of your medical visits and follow the doctor’s orders.
Sadly, there are times when long-term disability benefits are denied by the insurance company. In these cases, it is advisable to seek the help of a lawyer who can help you navigate the claim and help you to get what you deserve to help you rebuild your life.