Long Term Disability Benefits: An Overview

Long Term Disability benefits or LTD is just one of the numerous disability benefits that are available today. LTD is a kind of disability benefit that is often purchased by an employer for his employees. The employer pays for the monthly premiums of the policy while the insurance company handles compensation in case an employee gets disabled at work. Unlike STD or Short Term Disability benefits, LTD lasts for up to five years, or until you become 65 years old.

If you are interested in applying for Long Term Disability benefits in Los Angeles, here are some things you need to consider:

Occupation

Many insurance companies evaluate disability based on the type of work they can and cannot perform. There are two main types of occupation period, showing the severity of an individual’s disability:

• Own occupation period – This means that the disability or illness of the person incapacitates him to perform his previous work for 24 months.

• Any occupation period – In this situation, the individual cannot perform any gainful activity for 24 months because of his disability.

Obtaining Benefits

Before you obtain LTD, make sure you have exhausted the worker’s compensation of your company. Also, you should be continuously disabled for at least 180 days. The employee would receive approximately 60 percent of his annual earnings before he got disabled.

Benefit Period

As long as an individual is disabled he would continue to obtain disability benefits. If the individual was under 60 years old when he received benefits, he would continue to receive LTD until he reaches 65 or he retires. If he began obtaining benefits when he was 60 years old or older, he would obtain benefits for five years or before he retires.

Individual Long Term Disability Benefits

Aside from LTD offered by employers, disabled people can also get their individual LTD policies. They would be the one to pay the monthly premiums and receive the benefits in case they get disabled.

Legal Help

In order to be successful in becoming eligible for benefits, you will need a disability lawyer to gather and document evidence of your condition.

Acquiring disability is a difficult situation for any individual. It would slowly take away your job, activities, and even your pleasures in life. Good thing there are various disability benefits that you can obtain. You just need to have someone to support you. Once you begin receiving benefits, you would eventually regain your losses and recover from your disability.



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