If you are ill or have been injured and unable to work for a long period of time, or permanently, you may be entitled to receive long term disability benefits through an insurance policy provided by your employer or one that you purchased individually.
Health insurance may cover the medical bills related to your sickness or injury, long term disability insurance replaces a portion of your lost income while you are unable to work. These long term disability benefits are designed to provide benefits when your disability is not permanent or does not otherwise qualify for Social Security Disability Benefits, and to supplement Social Security Disability Benefits for those who are permanently disabled.
Your long term disability benefits are determined by the terms of your plan, and every LTD insurance plan is different. Some LTD policies may provide benefits for both work related and non-work related sicknesses and injuries, while other plans may only cover non-work related conditions. The waiting period for benefits to begin may range from a few of weeks to six months or more.
Some Long term disability insurance policies may cover you if you are unable to do your own job. Unfortunately, other policies require you be unable to perform any job for which you are qualified.
Finally, not every policy replaces the same amount of your lost wages, though most will replace between 33% to 60% of your lost income. These are just some examples of how benefits may vary from policy to policy, and it is important that you review the terms of your individual policy carefully.
There are absolute and strict time limits on your rights to apply for benefits and appeal a denial of your claim. In most cases, the application and appeal procedures are governed by the Employee Retirement Income Security Act; however, public employees and individual policies may be governed by Missouri or Arkansas laws. You should therefore speak to an Arkansas ERISA Insurance Law Firm immediately if you have any questions about your rights, or the disability provider’s actions.
It is vital for your family’s financial well-being, if your claim has been denied you should speak to an ERISA long term disability attorney immediately, because in most cases an appeal is mandatory and must be submitted to the disability insurance provider within 180 days.