People don’t like to think that accidents or injury could happen to them, but unfortunately, the statistics are against them. About 1 in 4 twenty-year olds get seriously injured and are unable to work for a period of time before they retire. Thankfully, many employers provide or make available disability insurance to help in this siutation There are multiple types of disability insurance that kick in if you are ineligible to work for any amount of time. There is short term disability that prevents you from being able to work for shorter periods of time (no longer than 6 months usually) and then there’s long term disability (which can range from 2 years until retirement). Either of these types of insurance may be provided by an employer or purchased individually. This article focuses on how to apply for employer provided long-term disability insurance. Here’s a step-by-step process of how to apply for long term disability benefits.
Look at Quotes
Long before you need to use it, you will need to purchase long-term disability insurance. Every insurance company is different as is each individual. Different companies have different ways of measuring how an individual qualifies for their insurance, so you want to find a company that fits for you. You also want to look at whether your employer offers disability insurance. Most employers will have short term disability insurance to some degree, but you may have to look on your own to find an insurance company that will give you long term disability benefits. There usually isn’t a lot of choices to make with an employer provided policy. The most important is usually whether you will pay for the policy premium before payroll taxes are deducted or after. Generally speaking, if you pay your premium after taxes are deducted then you will not be required to pay taxes on the benefits if they are awarded. Some employers also offer policies with different maximum payment periods. You will want to consider your age and your various risk factors in determining how long you want the long-term disability benefits to last.
Filing a Claim for Benefits
If the time comes that you need the long-term disability benefits , the application process will require you to fill out paperwork. The details for the paperwork differ depending on the company, but most companies will ask you for your name, date of birth, social security number, contact information, family members, name of your employer, work and education history, when you were last able to work, when you becamesick/disabled, your reason for disability, all medical providers and their contact information, prescribed medication, and any other income you might receive. The form is sometimes called the employee’s statement and requires basic information about you and your health history. The insurance company wants to know as much information about you and your health history as they can so they can make an informed decision about offering you insurance. They will use the information you provide to gather information such as medical records, testing, prescription records, and job descriptions. Then they will review that information often with the help of medical and vocational experts. That means that it is very important that you are thorough and accurate with the information you provide on these forms. Remember, insurance companies do not make money by paying claims so they are not likely to go out of their way to help you no matter how difficult your circumstances or how nice they seem on the phone.
Get a Statement from Your Doctor
You will then need to submit a physician’s statement completed by your doctor. Most insurance companies will provide you with a form that asks the necessary questions. Some may even contact your doctor directly. Some insurance companies will have you complete a medical exam with their medical technician at their expenses. But regardless of what insurance company you are applying to, you will need a doctor to provide your medical history, including diagnosis, treatment, and the doctor’s assessment about your ability to work with the injury or sickness. Your physician’s statement is one of the most crucial aspects of applying for long term disability benefits because the insurance company needs to know that you are disabled and will not be able to work long-term. If your doctor recommends additional testing to strengthen your case you should take that recommendation very seriously and get the testing done. Because long-term disability claims come under such high scrutiny, you want to be as thorough as you can in your application process.
Getting Approved
After you’ve submitted the proper paperwork, you may have to do a phone interview with the representative of the insurance company. They will talk about your health history, your lifestyle and will likely ask for the contact information of your primary physician. Even after the interview, your approval process is not complete. An insurance company representative that specializes in making disability decision will review all the information including the medical reports and your statements.It can be a long and anxious waiting period, which is why it’s important to be thorough with your application and submit your paperwork on time to the company. While the final approval process is not up to you, and there’s not much more that you can do other than wait. The policy sets the amount of time the insurance company can take to make a decision and there is usually an allowance for at least one extension. When you get the decision, it will come in a letter from the insurance company. Sometimes an insurance company representative will also call you to notify you of the decision..
What to Do If Rejected
Sometimes applications get rejected. This rejection doesn’t necessarily mean that you don’t meet the definition of disability under the policy. Rather, it may mean that there wasn’t enough medical evidence for the insurance company, or that the insurance company simply made the wrong decision. Remember, insurance companies don’t make money by paying claims.. If your application is denied, you generally have 180 days to appeal it, but this can vary by policy so make sure to read your denial letter carefully. The insurance company’s decision does not limit your future or your potential—you can still get the disability benefits that you need to support your family.
Long term disability benefits require a lengthy process to be approved, and even then, it’s not guaranteed. But if you qualify, long term disability benefits can greatly benefit you and your family when you are not able to go into work.