For individuals working in industries that witness a high number of injuries or deaths each year, a safeguard in case of a disabling injury is an important thing to consider.
The possibility of getting an injury on the job that will keep you from being able to work in your field for a long period of time or perhaps even ever again is actually pretty high.
When it comes to being protected against long term disability, there is more than one way to go about getting benefits for certain people.
Some employers who have a number of employees working in hazardous conditions provide LTD insurance through the company.
If your company does not automatically provide this type of insurance through a group plan, you should strangely consider taking out an individual LTD plan.
What an LTD Plan Can Give You in the Case of Disability LTD coverage can provide income replacement for victims of disabling injuries for a number of years after the injury or, in some cases, up until retirement.
Having this back up coverage is vital to providing for yourself and your family.
The type of LTD insurance you have and your particular case will determine how much income replacement you will be given.
There are also a number of hoops you may have to go through in order to prove that your disability is indeed long term.
What is Social Security Disability? Social Security disability People who cannot work because of a serious medical condition that is suspected to last at least a year may qualify for Social Security Disability.
If you qualify for SSD, you will be able to receive a certain amount of income replacement each month.
Will SSD Affect My LTD Coverage? Applying for SSD will likely lower the overall amount that you receive each month through your LTD coverage, however, it is still best to apply for SSD coverage as well.
Even though your LTD monthly payout will be slightly lower, you will still be receiving more through both than you would with just one.
There is also a much greater incentive for filing for SSD coverage than the overall payout.
That incentive is simply already having had the government agree that you are indeed disabled for the long term.
LTD insurance companies are notoriously picky about who they decide is indeed disabled.
SSD coverage will encourage them to accept your disability case much quicker than the insurance company normally would.
The possibility of getting an injury on the job that will keep you from being able to work in your field for a long period of time or perhaps even ever again is actually pretty high.
When it comes to being protected against long term disability, there is more than one way to go about getting benefits for certain people.
Some employers who have a number of employees working in hazardous conditions provide LTD insurance through the company.
If your company does not automatically provide this type of insurance through a group plan, you should strangely consider taking out an individual LTD plan.
What an LTD Plan Can Give You in the Case of Disability LTD coverage can provide income replacement for victims of disabling injuries for a number of years after the injury or, in some cases, up until retirement.
Having this back up coverage is vital to providing for yourself and your family.
The type of LTD insurance you have and your particular case will determine how much income replacement you will be given.
There are also a number of hoops you may have to go through in order to prove that your disability is indeed long term.
What is Social Security Disability? Social Security disability People who cannot work because of a serious medical condition that is suspected to last at least a year may qualify for Social Security Disability.
If you qualify for SSD, you will be able to receive a certain amount of income replacement each month.
Will SSD Affect My LTD Coverage? Applying for SSD will likely lower the overall amount that you receive each month through your LTD coverage, however, it is still best to apply for SSD coverage as well.
Even though your LTD monthly payout will be slightly lower, you will still be receiving more through both than you would with just one.
There is also a much greater incentive for filing for SSD coverage than the overall payout.
That incentive is simply already having had the government agree that you are indeed disabled for the long term.
LTD insurance companies are notoriously picky about who they decide is indeed disabled.
SSD coverage will encourage them to accept your disability case much quicker than the insurance company normally would.
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