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There are many forms of insurance for the uncertainties in life. Many people try to protect their finances by buying insurance, but may not consider disability insurance as important. If you are injured and unable to do the job you've always done, how will you earn the money that is necessary to live? Disability insurance pays benefits to employees who are dealing with a disabling injury or condition.
Getting Disability Insurance
Disability insurance policies come in many forms. For example, workers' compensation is a type of disability insurance that pays for an employee's injuries if they are hurt on the job. Other policies can be purchased privately, through employers, or in addition to life insurance policies. The government protects its military personnel through Veterans Affairs disability insurance, which is payable to families in the event of injury or death. Additionally, Social Security disability is a form of insurance.
What do disability insurance policies cover?
Disability insurance policies protect a person's future wages in the event of a disability. The disability can result from an injury or illness, whether at work or outside of work. Coverage levels vary based on the premium, plan, and length of coverage you choose.
Short-term and Long-term Disability
In general, there are two parts of a disability insurance policy. Short-term disability pays a certain percentage of a person's wages if they are temporarily disabled and cannot work for a short period of time. Long-term disability picks up when the short-term policy's time limit is reached. For example, if they employee can't return to work after the 3-month short-term disability benefits have expired, then their long-term policy will kick in. Some policies may not include long-term benefits, so be sure to shop around and educate yourself on what policy will protect your interests the best.
Variables in Coverage
There are wide ranges of disabilities, jobs, and wages. The available benefits vary greatly based on many factors, such as:
- predicability. Was the disability a result of predictable disease or an accident?
- relation to work. Did the injury or illness happen at work?
- degree of disability. Is the policy holder totally or partially disabled?
- other insurance policies. Car, health, or workers' compensation insurance may also pay benefits depending on the circumstances.
Insurance disputes are always difficult to deal with. Policy holders may feel at the mercy of the large insurance corporation. This is especially difficult when a person is trying to claim benefits that help them maintain their normal lifestyle following an injury or illness. Keep all medical bills, wage statements, policy contracts, and other important documents that relate to your claim.
If you are in a dispute with your disability insurance provider, call the Coye Law Firm today. Our attorneys can help you appeal denied disability claims and win disability benefits you need. Contact us today for a free consultation.