Understanding Long Term Disability Insurance
Workers’ compensation differs subtly from long term or permanent disability insurance. Many employers are required to provide workers’ compensation, which applies to injuries or accidents sustained in work-related situations and locations.
Though related to workers’ compensation, long term disability insurance is handled separately, and often an individual purchases it on his or her own, or it is provided through a health insurance company. Not understanding the difference between these two terms can cause detrimental mix-ups if an employee is trying to secure long term disability compensation from his or her employer.
Individuals should be aware of and understand their individual long term disability insurance policies. Specifically, it is important for individuals to understand:
- The insurer’s definition of a disability
- The payment trigger date
- The extent of your disability relative to the company’s definition
- Residual benefits
- Length of coverage
- Waiver of the premium over time
Insurance plans can be incredibly complex, but the lawyers at Robert Wilson & Associates can help you with any confusion you have with regards to your long term disability insurance.
The Minnesota workers’ compensation attorneys at Robert Wilson & Associates understand the complexities of both workers’ compensation and long term disability insurance, and are dedicated to helping our clients pursue the compensation they need for their disabilities and injuries. If you or a loved one is having difficulty securing the financial assistance you need for a disability, contact Robert Wilson & Associates immediately at (612) 334-3444.