Some long-term disability benefit plans provide you with disability benefits until retirement. However, once you retire and begin getting Social Security retirement benefits, you generally no longer are eligible for long-term disability benefits. The typical age of retirement is 65. However, you can retire early and receive a reduced amount of benefits beginning at age 62. You also can delay receiving benefits up until age 70.
In many cases, if you are completely disabled and your condition is not expected to improve, you may qualify for Social Security disability benefits. Some disability policies require you to apply for Social Security disability benefits as a condition of receiving long-term disability benefits at one point or another. If you qualify for Social Security disability benefits, most long-term disability policies require an offset of your long-term disability benefits.
As a result, each dollar of Social Security disability benefits that you receive typically will reduce your long-term disability benefits dollar for dollar. If the amount of Social Security disability benefits is larger than your long-term disability benefits, then you may receive what the policy defines as a minimum policy amount – which is often either 10% of the flat amount or $100.00. In the opposite situation, if you receive a higher amount of long-term disability than Social Security disability benefits, you can continue to receive long-term disability benefits. You can collect whatever amount that brings your total monthly benefits up to the full amount of long-term disability.
It can benefit you greatly to get legal advice about the most effective means of building and maintaining the most successful ERISA long-term disability claim possible. Bonnici Law Group provides skilled, aggressive legal representation regularly for individuals who are seeking long-term disability benefits under insurance policies governed by ERISA. Our priority is to represent your interests and protect your rights to the benefits that you deserve. Call us at 619-259-5199 and schedule an appointment to meet with us about your case today.