What Makes Long-Term Disability Insurance Unique?
Generally speaking, in Florida and throughout the country, disability insurers will utilize whatever means necessary — whether you have short-term disability insurance coverage or long-term disability insurance coverage — to undervalue a policyholder’s claim, or to otherwise avoid having to payout the claim altogether. Insurers rely on the fact that many policyholders are unwilling to challenge their decision, even if their decision is not justified by the evidence. If you’ve had a legitimate disability claim denied by your private insurer, you do not have to standby and accept their decision — if you appeal the decision or pursue traditional litigation thereafter, it may be possible to have it reversed. What is Long-Term Disability Insurance? Long-term disability (LTD) insurance is private disability insurance coverage that acts as an income replacement if you are rendered disabled and therefore incapable of working. LTD insurance lasts for a year (at minimum), and up to a lifetime (at maximum) — depending on the policy that you have entered. As such, it can function as a permanent income replacement in some cases. By contrast, short-term disability (STD) insurance is private disability insurance coverage that acts as a temporary income replacement, usually between three months and one year in duration. STD insurance and LTD insurance need not conflict. In fact, comprehensive insurance coverage generally involves purchasing STD and LTD insurance policies that overlap. Once the STD insurance benefits period has ended — assuming that you are still disabled — then the LTD benefits will kick in, ensuring […]