There are many reasons you should have long term disability coverage. We’re uncovering what it can do for you!
The majority of people rely on their work income to pay for living expenses, like food and housing, and have no other means to support your family in the event of an illness or injury which prevents you from working for a sustained period of time, a Long Term Disability plan would be in your best interest.
You should get coverage as soon as possible, as premiums are always going to increase with time and based on your age. If you are in good health, qualification for a policy will be easy; however, if your health declines, finding good coverage may no longer be possible or pre-existing conditions could prevent the receipt of benefits depending on what might disable you in the future.
It is important to have enough Long Term Disability coverage to cover your costs of living. Keep in mind that you may have expenses related to your illness or injury which may not be covered by health insurance which can cause your monthly expenses to increase. Most disability insurance typically pay around 60% of your income for the period of time you are unable to work. If you are not able to return to work, you will be required on occasion to have your doctor complete a form that attests to your disabling condition.
Whether or not you have disability insurance coverage through your employer may affect your decision to apply for a private short- or long- term disability policy.
If you have any questions about applying for Long Term or Short Term Disability insurance, please call our experienced attorneys to walk you through the considerations. We are available at 407-839-0005 or, toll free, 844-454-59995, If you would like, after discussing your case, we can set a conference.