Learn some informative information about filing your long-term disability claim.
There are two main disability insurance types: short-term and long-term. Long-term disability, known as LTD, helps employees who can’t work due to medical reasons. So, these workers receive a monthly payment to help compensate for their lost wages. One unfortunate reality of this process is that it may be exhausting to secure the benefits provided to you. Continue reading to learn some informative information about filing your long-term disability claim.
Complexities of the Insurance Policy
Decoding the intricacies of the insurance policy may be daunting. Both group insurance and individual policies have their peculiarities. So, you must acquire the plan before filing your long-term disability claim. Fortunately, your company’s HR department may assist you. They will also give you the procedure and the summary plan description. Also, ensure you request that you obtain all documents in writing. Otherwise, you may not receive the proof you need to substantiate the claim.
Another way to diminish the validity of your claim is missing the mandatory time limits. So, filing your initial application and completing the appeals might take longer than you think. Thus, you should not miss the deadlines. If you do, you are subject to denials by insurance companies.
What Does Disability Signify?
You wonder what disability means. While it is easy to assume that disabilities are a fixed term, it’s actually different. As it turns out, the definition of disability is subjective. It typically depends on your working status, the severity of your condition, if your condition is found in the list of disabling conditions, etc.
What is Not Covered by Insurance?
Pre-existing conditions do not fall under the protection of disability insurance. Even though these conditions can be overwhelming, receiving treatment before the policy starts can complicate your long-term disability claim. Other factors that are not covered include alcoholism, drug abuse, suicide attempts, injuries, and acts of war caused by criminal acts. In addition, mental health disabilities like anxiety and depression will allow you to obtain benefits, but they expire after a set period (usually after a year). However, this doesn’t always happen.
Get in Your Voluntary, Supplemental, and Health Insurance Policies with the MWE Partnership!
Are you a business looking to provide your employees with essential voluntary benefits? If so, look no further than The MWE Partnership. When you choose The MWE Partnership, you get experienced service and comprehensive voluntary benefit options that will meet all your employees’ needs. With over 17 years of experience, The MWE Partnership is your go-to provider for all your supplemental benefit needs. If you are interested in finding out how The MWE Partnership can help your business, contact us today! We encourage you to like our Facebook page and follow us on Twitter and LinkedIn for the latest voluntary benefit news!