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More and more people are investigating long term disability coverage these days and with good reason; a study conducted by the Council for Disability Awareness, reports that one out of four 20 year olds will have a long term disability before they reach 65 years of age. Moreover, the average time they will be out of work is over two years. Long term disability insurance is typically offered through employers, but individuals can also buy it on their own.                                                        

Long term disability benefits can be a vital component of an employee’s compensation package. Some employers deduct a small amount from the employee’s paycheck to pay the premiums while other plans are fully funded by the company. In addition, individual plans are available to supplement company plans or if no plan is offered. In any case, our New York disability attorneys will explain that a long term disability plan will replace a portion of a covered employee’s income for as long as they remain disabled under the definitions, exclusions, limitations and provisions of the policy.

Having insurance of any sort is an interesting proposition. Whether required by law or optional or whether it's provided by one’s employer or purchased privately, most people acquire various policies protecting different interests all with the hope of never having to be in the position of needing the benefits the policy coverage provides. However, as obvious as it may seem to the person making a claim for long term disability benefits that they are disabled and cannot work, it is the insurance carrier who makes that decision.  As our NY disability attorneys can attest, many claimants are surprised to learn that they have had their claim denied.