If you are injured and suffer long-term harm, it is right to be concerned about your future income. On average, an employee with a long-term disability will miss about 2.5 years of work, which can equate to a devastating amount of lost wages.
It is important that you understand the way that long-term disability (LTD) insurance works, and how it differs from workers’ compensation. Workers’ compensation is for the financial protection of employees who suffer harm in work-related accidents and illnesses.
However, when an employee is injured in an accident when they are not at work, they will not be covered by workers’ compensation. This is where long-term disability insurance becomes helpful. Long-term disability insurance can make it possible for a person injured in a car accident or other incident to gain back a portion of the wages they lost during their recovery time.
Does your employer offer long-term disability insurance?
Although employers are not required to carry long-term disability insurance by law, some do so to attract prospective employees and to show that they care about their employees’ well-being. If you do not have long-term disability insurance as part of your employee benefits package, you may purchase it on your own.
Getting the long-term disability benefits you deserve
Long-term disability benefits should come into effect after your short-term disability benefits end. Unfortunately, LTD insurance carriers often do not make the process easy for those they insure.
If you are struggling to get the payout you deserve after an injury resulting in a long-term disability, it is important that you understand how to take action. By learning more about the law, you will be able to pursue your rights.