Long-term disability coverage pays a portion of your income if you are unable to work for an extended period due to illness or injury. Typically, there is a waiting period before long-term disability benefits are available, such as three or six months. During that waiting period, individuals may have short-term disability coverage to fill the gap before long-term disability coverage kicks in. Long-term disability policies usually provide 50 to 60% of your income while you are unable to work. The length that you can continue to receive those benefits varies according to the policy. Under some policies, however, you may receive benefits until the age of 65.

Although many believe that having long-term disability coverage is a smart move, only about 20% of people have this type of insurance coverage in place. However, what most people do not realize is that long-term disability coverage can be crucial to your future if you suffer from an accident or illness that leaves you disabled and unable to work. According to a recent NPR article, the average duration of long-term disability benefits is almost three years. Many households do not have sufficient funds to cover even three months without income. Plus, one in four of all 20-year-olds will be disabled before they reach the age of 67.

Since this coverage can be beneficial if the unexpected occurs, you may wish to check out this option during your annual open enrollment period at your workplace. While some employers full fund this coverage, others offer it to their employees based on payment of a periodic premium. Nonetheless, 41% of employers offer this coverage for free or for very low rates, and percentages are higher among larger employers.

Obtaining long-term disability coverage can be essential to protecting your future. When you purchase this coverage, however, you need to be aware of your rights and responsibilities under your long-term disability plan. At Bonnici Law Group, we offer you client-centered representation at all stages of the long-term disability benefit claims process. When you need the kind of help that only an experienced long-term disability benefits attorney can offer you, contact Bonnici Law Group at 858-261-5454 or help@bonnicilawgroup.com.