Find A Long Term Disability (LTD) Attorney
Long-term disability provides a cash payout to you in the event that you are disabled and can not go back to work for an extended period of time. Long-term disability (LTD) insurance can be purchased from private insurers through an employer’s group plan (if available) or individually. A Long Term Disability Attorney will help you understand and submit your claim.
LTD plans may be available for 2 years, 5 years, or until the age of retirement, which is 65. The insurance typically pays a percentage of your salary prior to your disability. The percentage ranges according to which plan you have selected (and how expensive that plan is) but common rates are 50%, 60% or 66.6%.
Common Causes of LTD Claims
The Council for Disability Awareness (CDA) conducts a survey each year on long-term disability and found that in 2007 the most common disability claim diagnosis was musculoskeletal/connective tissue disorders.
Other common causes of long-term disability are:
Long-Term Disability vs. Social Security Disability Insurance (SSDI)
- Pregnancy Complications
- Mental Disorders
- Nervous-system related problems
The federal government offers a free alternative to long-term disability insurance programs for all taxpayers who qualify and have paid into the program via their lifetime earnings: Social Security Disability Insurance
However, many people choose to pay for a privately managed long-term disability insurance policy because the cash payout will be closer to the salary they were making prior to their disability.
There are an estimated 2.2 million claims for SSDI made, and only 37% are approved
– purchasing a long-term disability plan is a wise investment, but the process for collecting benefits isn’t much easier than the SSDI process. Talk with a disability attorney
for more details.
Statistics on Disability
Problems with Long-Term Disability
Problems can arise when the insured files a claim
- 1 in 5 – chance of becoming disabled
- 1 in 7 – people will be disabled for 5 years for more before retirement
- 2.5 – average number of years someone is absent from work due to a LTD
- 10% or less – number of accidents on the job that necessitate long-term disability
- 33% - number of individuals receiving long-term disability who do not qualify for SSDI
. If every program’s customers filed claims, the cash payouts would exceed the amount of money the program collected in premiums, so insurance companies often deny claims, delay the payout process, and offer little help to claimants.
If you are having problems collecting long-term disability insurance, you can contact an experienced disability attorney
who can help you get the compensation you are entitled to as a result of your insured disability.