Facts about LTD Insurance- Get them Right Before Joining a Company

Long-term disability insurance is offered to employees working for organizations. They can claim compensation in case they become disabled and cannot earn a living. Several medical conditions qualify for this insurance and you just need to click here to know about them. It can be used with or without short-term disability insurance and has already helped many families. Non-work-related injuries are also covered, which have impacted his ability to earn. Several important key points should be noted when opting for LTD as mentioned below:

Singing up through an employer

When you have joined a company and the employer is offering this plan, you must sign up for them at the initial enrolment period. Some timelines need to be followed before these benefits become available to you. Some companies may require you to complete 3-26 weeks within the company before you become eligible to avail of them. The sooner the better.

Claiming the benefits

If you have met with an accident and received injuries in such a way that you won’t be able to work for a long time, you need to provide all medical details throughout your life so that you are able to obtain what you deserve. If you fail to do so, all your LTD benefits will be terminated. Therefore, it is suggested to keep track of your doctor’s visits, medical reports and other vital information so that you don’t face any problem in receiving these benefits throughout your life.

Understanding the terms 

Basically, LTD benefits can be categorized into two sections as mentioned below:

  • Own occupation– These benefits are awarded when an employee is unable to perform his job or similar job regularly. Generally, these benefits can be availed for about two years.
  • Any occupation- After this time, the benefits are awarded if the employee is unable to perform any job for which he has attained education, training or experience.

All of these details should be gone through beforehand to avoid any confusion later on. There are a number of medical conditions that qualify for LTD benefits. Mostly, they are listed in the LTD insurance plan. If you cannot understand anything, it is suggested to get in touch with the human resource department of your company.

Many a time, if you are facing any problems related to obtaining compensation, you can get in touch with an attorney. He can help you fill out the form and resolve any dispute.