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LONG TERM DISABILITYI (LTD) AT WORK

Many employers carry group insurance that includes a Long Term Disability (LTD) policy on their employees.  This can be a financial life saver when disability strikes.

Let's say that you are suddenly diagnosed with a serious disease that will require you to be off work for an indefinite period of time, perhaps even permanently.  Or, you have an accident that leaves you unable to work.  All your bills continue but your income may suddenly stop because you are unable to work.

You apply for Social Security disability.  However, you find out that Social Security pays no benefit for the first 5 months from the onset of your disability.  So, even if you are approved quickly, there can be no Social Security check for 5 months.

Then, you discover that it often takes months just to get a decision on your SSDI application.  Worse still, up to 80 percent of Social Security disability applications will be denied.  An appeal can take 2 years.  There is no Social Security check during the appeal process.

 That's where your employer's Long Term Disability insurance comes into play.  If you are lucky enough to have this coverage at work, you see your personnel department to file a claim.  This insurance may provide you an income while you wait on Social Security to process your claim or appeal, which can take months or years.

 Many employees are given a chance to enroll in LTD benefits at work and decline the coverage.  Please reconsider this.  Social Security may never pay you a benefit and, even if they do, it may take years to get approved.  Your employer's Long Term Disability plan could be your financial lifeline during this long, uncertain wait.

 No one expects to become disabled.  But 1 in 4 workers will become disabled before reaching retirement age.  

 I urge you to find out if your company has Long Term Disability insurance and if you are covered.  Find out what you need to be in order to be covered, if you are not.

 Like all insurance products, LTD is something you cannot get after you need it.  You must get it before you need it.

If you have recently been denied disability benefits by Social Security, please call our office here at the Forsythe Firm.  We would be happy to give you a free evaluation/consultation.  If we represent you, you will never pay us a cent until you win your claim and recover your back pay from Social Security.
________
The Forsythe Firm
Charles W. Forsythe
7027 Old Madison PIke - Suite 108
Huntsville, AL 35806
"Across from Bridge Street"
CALL (256) 799-0297.



 

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