|benefitslaw 01-05-2017 @ 2:10 AM|
Joined: Jan 2017
Ten Things Employees Should Know About ERISA Disability Insurance :
1.Your LTD policy's precise definition of "disability" can make a big difference in your case.
2.There's a waiting period between the time you become disabled and when you're eligible to receive LTD benefits.
3.Whether your LTD benefits are taxable depends on the type of policy you have
4.Insurance companies often hire investigators to conduct undercover surveillance of people applying for LTD benefits.
5.If you've been approved for LTD, you'll probably be required to file for Social Security Disability Insurance (SSDI) as well.
6.Your insurance company or LTD plan administrator decides whether you are approved or denied for benefits.
7.If you are approved for LTD benefits, you'll receive a percentage of your former salary, not the entire amount.
8.Some LTD policies provide for benefits until retirement age; others pay for a fixed number of years, usually five or ten.
9.Most LTD policies limit payments for disabilities based on some mental and nervous conditions.
10.Your doctor's opinion and your medical records are both critical in an LTD claim.
Finally, remember that ERISA claims are difficult to navigate without an experienced attorney. This is especially true if your insurance company acts in bad faith to deny you benefits.