Q: Who needs long term disability insurance?
A: Severe injuries or chronic illness can happen to anyone at any time. However, the odds of requiring long term disability benefits increases with age. Older individuals would be wise to purchase LTD insurance as the rising cost of long term disability makes the policy worth the investment.
If you do require long term disability benefits one day, the policy will more than pay for itself when compared to total premium costs out-of-pocket long term disability. Without LTD insurance benefits, many individuals would be forced to sell personal or business assets or even face bankruptcy.
Q: Is 'long term disability' granted under the same circumstances in all insurance policies?
A: long term disability is typically recognized as a condition such as chronic illness or severe injury which prevents the policyholder from performing everyday activities without assistance. Severe conditions will receive long term disability at home with a skilled medical professional or in the care of a facility. However, restrictions for long term disability may differ depending on your individual insurance policy.
Q: How much long term disability can I obtain through my insurance policy?
A: Depending on the provisions stated in your insurance plan or policy, you may be elligible for full or partial coverage. Jwan Desai is an experienced Toronto lawyer specializing in long term disability claims and can help clarify exactly what benefits are provided to you in your policy.
Q: Is there a deadline to submit my long term disability insurance claim?
A: Yes. There are time constraints to all long term disability insurance claims, therefore any delay in proceeding may be liable to a deadline. Contact Jwan Desai at Aaron Waxman and Associates as soon as possible to correctly identify the deadlines that apply to you.