long term disability benefits

Long term disability benefits derive from a long term disability insurance plan. This is usually a private plan operated by an insurance company or agency. The disabled person receives the benefits from an employer instituted or company implemented long term disability benefits plan. The type of disabilities covered and the amount of benefits received vary with each company. There are also city and state differences. When looking into long term disability benefits thoroughly research various aspects before you ask for quotes. Look at the service wait, the amount of benefits obtainable and the benefit period. You also need to discover whether the company has a non-cancelable or a guaranteed renewable type of long term disability benefits plan. Be sure you understand the basic terminology. Some plans allow long term disability benefits if you are unable to work in your own occupation. Others prefer to institute an any occupation clause. You may also want to consider options. These can include a cost of living adjustment (COLA) and a co-ordination of benefits.

Fast Facts

The top 3 reasons for collecting disability benefits in 2000 were back injury (18.2%), emotional (12.7%) and neurological (11.3%).
In 2005, there were 24,100,000 disabled injuries in the United States.

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