Long Term Disability Lawyer Mississauga

Long Term Disability Insurance

Every insurer has a different definition of the term, but the term itself can cause confusion as to its meaning.Total disability in an LTD policy generally means that you are unable to perform the essential tasks of your jobwhile you are recovering from injury or illness. In most LTD policies, the definition of total disability will change after two yearsand thereafter means that you are unable to perform the duties of any job you are suited for and for which you can be gainfully employed.

Insurance policies state that to qualify for benefits, the insured must have a “total disability also known as long term disability insurance.” This can discourage individuals from making a claim because they believe they won’t qualify, but that is not necessarily the case. Sometimes long-term disability benefits are stopped because the insurer claims you are not totally disabled anymore.

On average, most long-term disability insurance providers will cover around 60 to 70 percent of lost earnings. However, long-term disability plans can only be applied once you have exhausted the following:

• Employment insurance sickness benefit
• Leave pay
• Short term disability insurance

In an LTD policy, total disability generally means that you cannot perform the essential tasks of your job while recovering from injury or illness. Some plans pay the insured for up to two years, should they be unable to return to their occupation. Beyond this period, the insured may receive benefits if they are still unable to work in any occupation.

However, disability plans differ to a certain extent. It is essential that you understand what your policy covers before you need to use it. An experienced long-term disability insurance attorney can help you understand the terms and conditions of your plan and help you determine the best course of action.

Short-Term Disability Insurance

If you are unable to work because of an illness or injury, this type of policy will cover a percentage of your salary for a set period, usually ranging from three to six months. Typically, short-term disability plans are less expensive than long-term disability policies, but they will only cover you for a shorter period.

Some employers provide short-term disability coverage, so employees can apply for benefits through the plan. However, this type of coverage is not required by law.

An employer-sponsored STD policy will generally have a waiting period before benefits can be paid out. This waiting period can range from a few days to a few weeks. After the waiting period has elapsed, the employee will receive benefits.

However, before being eligible to receive these benefits, an employee must have already exhausted their sick leaves and employment insurance sickness benefits. Insurance plans vary per provider, so it’s important to check the terms and conditions of your policy to see what coverage you’re entitled to.

What’s the Difference Between Short Term Disability Insurance And Long Term Disability Insurance?

The primary difference between short-term and long-term disability insurance is the benefit period or the length of time for which benefits are paid. Short-term disability insurance typically provides benefits for a period of three to six months, while long-term disability insurance provides benefits for a much longer period, often up to several years or until retirement age.

In terms of coverage level, both short-term and long-term disability insurance offer flexibility in benefit amount and duration. Short-term disability usually covers a larger percentage of your income (as much as 70%). However, long-term disability insurance typically provides more comprehensive coverage than short-term disability insurance, including protection against inflation and the ability to cover a wider range of disabilities.

While both types of disability insurance can be valuable in protecting your income, it’s important to understand the difference between them to make the best decision for your needs. To help you decide on the level of coverage you need, consider the following:

• If you do not have enough savings or an emergency fund in case you are unable to work for a few months, you need short-term disability insurance to see you through the period of convalescence from an injury. You will also need long-term disability insurance if you want financial protection if you are permanently disabled and unable to work.
• If you have significant savings, enough for an emergency fund, you can focus on long-term disability insurance to financially protect yourself and your family in case of a permanent disability.

No matter what type of policy you choose, it’s important to ensure that you get the best possible coverage for your needs. Be sure to compare different policies and find the one that offers the most comprehensive protection at the best price. You may also want to consider speaking with an expert disability insurance attorney for advice on the type of policy that is right for you.

If Your LTD Benefits Have Been Cut Off, We Can Help You

Our Mississauga area lawyers have intimate knowledge of disability law and insurance matters and can personally advise you about every aspect of your claim. Despite having perfectly legitimate disability claims, some claimants are denied benefits. We know how to fight for your entitlement and can skillfully advocate having your benefits established or re-established.

We are experienced employment lawyers as well and can handle a claim where you have been dismissed by your employer while on disability leave.

Disability claims are complex matters and you may have questions about the process such as :

• What is a “total disability” in an LTD policy?
• Why were my LTD benefits cut off after two years?

Have more questions? See our Disability Insurance FAQs.

Apply For LTD Benefits Even If Your Short-Term Benefits Have Been Cut Off

Individuals sometimes mistakenly believe that if an insurer has cut off their short-term disability claim earlier than the cut-off date, they will not be able to make a LTD claim.

At times, an insurer will cut off long- or short-term benefits early for no particular reason. We are well-experienced with these types of situations and will advocate for you to not only have your benefits reinstated, but for repayment of arrears.