If you have a long term disability insurance policy, either an individual policy or group plan benefit, you may be eligible to continue receiving a percentage of your salary in the event you become unable to work due to a disability.
There may be some qualifying requirements to be eligible for long term disability insurance benefits, such as being a “full time” employee.
The differences between own occupation and any occupation can be technical and confusing. In this article, we will break down the differences “own occupation” and “any occupation.”
As part of the claims process in reviewing your claim, the insurance company adjuster may want to schedule a “sworn statement” (sometimes called a recorded statement) with you. The statement may be arranged to take place on the phone or in-person via a “field visit”.
For long term disability insurance purposes, to be considered disabled, a person must have an impairment – either medical, psychological, or psychiatric in nature – that keeps the person from working.
Your age may play a significant role in determining whether your claim for Long Term disability benefits is approved.
In terms of qualifying for disability insurance benefits, the issue is whether your disability began before you are terminated. That being said, if you are fired while on disability leave, you may have a separate employment claim for wrongful termination.
If you’re receiving LTD benefits, keep in mind that your insurance company reviews most claims month-to-month and can terminate your monthly payments for any number of reasons.
In some cases, the type of job you perform or the amount of education you have can affect whether you get LTD benefits.
The idea is they don’t want to cover you for something that you’ve been getting treatment for if you go out on disability within a year of starting your job.