Social security disability insurance and long term disability
Having a disability at work can occur to anyone even those who spend time seated in front of a computer are prone do disabling conditions like neck pain, back pain, muscle problems and other such conditions that can render one disabled. It is therefore very essential to have an insurance cover clients that would get you through times as this when you do not have regular income. Most people are confused about SSDI and LTD plans and some might wonder why they should get both instead of having just one. Here is the relationship between the two insurance plans to help you make the decision to get the long term disability plan.
Social Security disability insurance SSDI
This is a government policy that is given when one becomes disabled in their work. There are limitations on who is eligible to get SSDI. To qualify Law Society one must have paid all their federal insurance contributions as required while working. You should have worked for about five years of the last ten years you have worked in that occupation to qualify. Also one must be totally disabled as defined by the social security administration. This means you should be disabled to the point where you are not able to perform any kind of work that you were previously able to perform. To also ensure that you qualify the social security administration requires that you are unable to adjust to any other sort of work that people in your kind of state are capable of doing. These measures are very stringent and therefore make it hard for many people to get the benefits of this insurance policy even when they have made their payments religiously. The process also takes a lot of time and you might be required to wait at least six months to an year before you can start receiving any benefits.
Long term disability LTD
Long term disability law was put in place to enable employees to acquire insurance that could help them get income even after they have been disabled in the long term. This is given by some employers and sometimes the employee might be required to take it privately. LTD pays a portion of the salary that you were receiving for a stated period or until you are 65 years of age. It is also quicker and easy to file a claim with this kind of a plan than it is with the SSDI injury lawyers in St John review However the LTD benefits are reduced when you qualify and start receiving the SSDI. What the insurance does, they reduce the amount that you receive from the SSDI from the benefits that you were receiving from them.
It is therefore very important that all workers apply for a long term disability plan because it offers them more coverage and better terms in case they were to become disabled.