Long Term Disability Insurance Coverage Can Alleviate Your Ordeal

Long term disability can cause economic hardships, emotional distress, and acute mental agony arising from the feeling that a person is no longer in position to take good care of themselves or family. The present and future lost wages often leads to devastating consequences in the form of foreclosures and even bankruptcy. Long term disability insurance coverage can be of some real help here by providing you with a steady income for an extended period of time.

Donofrio Law Firm, PLLC, have excellent long term disability claim lawyers who work with the utmost sincerity and devotion to ensure a brighter future for a disabled worker. Economic hardships that come with long term disability can shatter anybody. These compassionate lawyers understand the feelings of a disabled worker and leave no stone unturned to make sure they receive their legitimate insurance claims.

Long Term Disability : The Myths And The Facts

A majority of people believe that their chances of suffering from an accident or an illness that will put them out of work for a longer period of time are close to nil. They think that unfortunate and unforeseen events that cause debilitating injuries or illnesses happen only to others. A large percentage of workers suffer from the misconception that disabilities are usually caused by freak on-the-job accidents.

What do Statistics say?

According to the American Council of Life Insurers, more than 30 per cent of American workers between the ages 35 and 65 run a credible risk of being disabled for more than three months. According to the Council for Disability Awareness, 25 per cent of workers aged between 20 to 30 years have real chances of becoming disabled before they approach the retirement age.

What Is The Chief Cause Of Long Term Disability?

Contrary to popular belief, life threatening diseases, and not some on-the-job or off-the-job accidents, force people to remain absent from their work for an extended period of time. Diabetes, cancer, cardiovascular diseases, and musculoskeletal and connective tissue disorders which result in joint pains, pain in the lower back, neck, foot, and ankle are the chief contributors to long term disabilities.

Effects Of Long term Disability

Disability of any type or form can strip a worker of their ability to make a living. No one wishes a life where some disorders or accidents severely hamper a worker’s ability to work and make an honest living. Workers think that life will continue as it is and when the disability strikes they are left dazed and stunned. A little bit of savings can see you through for a few months but as the disability period extends, lost wages and medical expenses start making their presence felt. This is where long term disability insurance can come to your rescue. Disability insurance will replace up to 60 per cent of your income (in some cases, up to 70 per cent too, depending upon the policy) for the time period you are unable to work or till you attain retirement age.

What And How Of Long Term Disability Insurance

Short-term disability insurance will pay a worker anywhere between 40 to 60 per cent of their base salary if they suffer from a temporary disability that may last up to three months. Long term disability kicks in after the short term disability insurance comes to an end. Long term insurance in most cases is provided by employers though workers can supplement their employer's disability coverage by purchasing an additional long-term disability policy.

Please remember that premiums paid by after tax dollars will result in tax free disability benefits. If you are or your employer is paying the premium with pre-tax dollars, your disability benefits will be taxed.

Private long term disability insurance companies actively cooperate with employers and workers to ensure that a worker regains his fitness as soon as possible and returns to work. This proves beneficial both for the worker and the insurer- a worker regains his health and his optimum productivity level whereas a private insurer saves money.

Bad Faith Practices – What Is It ?

Bad faith is defined as "the unfair or unreasonable denial or underpayment of legitimate insurance claims."

Bad Faith Practices - What Should You Do?

It is not infrequent to see private long term disability insurance companies indulging in unfair denial or underpayment of legitimate insurance claims. Some states have established laws to protect disabled workers from the malpractices of insurance companies. Misrepresenting policy benefits, unfair denial of benefits, unreasonable delay in handling of a claim, coaxing client not to hire the services of a lawyer, and so on are some common bad practices an insurance company indulges in.

Donofrio Law Firm, PLLC, has lawyers who can help you in recovery of the policy benefits and also get you additional benefits and punitive damages for the losses suffered by their client.

No one wishes to think of a life of high medical bills, lost wages, lost savings, financial insolvency, and even bankruptcy. A little bit of foresightedness and clairvoyance can certainly help matters. Long term disability insurance coverage can alleviate your sufferings to a certain extent by paying a portion of your salary for the time period you are unable to work.

Donofrio Law Firm, PLLC, has lawyers who pay personal attention to their clients. They provide excellent legal advice and representation to their clients and assist them at every stage of their ordeal.