Articles Editor's Blog Reader Mail

Long Term Disability Evergreen CO

Pay attention to how disability is defined in any policy you are considering. Also pay attention to whether all kinds of disability are covered or if your insurance only covers disability due to accident. While you will pay less for disability coverage for accident only, any unexpected serious illness (like a heart attack for instance, which is often silent before you experience it), could also put you at risk for an extended inability to work.

KAISER PERMANENTE- KEN CARYL
(303) 338-4545
7600 Shaffer Parkway
Littleton, CO
 
KAISER PERMANENTE - WADSWORTH, LITTLETON
(303) 972-4500
5257 S. Wadsworth Blvd
Littleton, CO
 
Associated Agents
(303) 238-7341
1970 Kipling Street
Lakewood , CO
 
West Denver Dentist
(720) 763-9070
7575 West 20th Avenue
Lakewood, CO
 
Wealth Strategies Group Guardian Life
(720) 334-7115
13545 W 67th Place
Arvada , CO
 
Brown & Brown Insurance of Colorado
(720) 963-4244
7110 W. Jefferson Ave., Suite 100
Denver , CO
 
Colorado Health and Life
(303) 997-7189
9242 W Louisiana Avenue
Lakewood , CO
 
Strategic Alliance Financial Group
(303) 870-9142
494 Sheridan Blvd., Suite B-206
Denver , CO
 
LIFEHEALTH
(303) 730-1902
5554 S. Prince St. #131
Littleton, CO
 
New York Life Insurance Company
(303) 548-2586
6850 W 52nd Avenue Suite 200
Arvada , CO
 

Long Term Disability

Provided By: 

Long Term Disability

Long Term Disability (LTD) takes over where Short Term Disability (STD) leaves off. If you are sick or incapacitated for longer than six months, you will need to have long-term disability insurance. In most cases, STD coverage expires after 6 months of illness or injury that prevents you from working. At this point, if you don't have LTD, your benefit's will cease.

Long Term Disability continues to provide you with income replacement for the period defined by your policy. That could be anywhere from 2 to 3 years to the rest of your life. The benefit period depends on the type of coverage you've purchased.

Again, it's critical to know the details of your coverage long before you have a problem. What percentage of your salary will your insurance benefit provide? Is there any kind of cost of living adjustment if your disability continues for longer than a year or two? Do you have to keep paying premiums once you are disabled?

Pay attention to how disability is defined in any policy you are considering. Also pay attention to whether all kinds of disability are covered or if your insurance only covers disability due to accident. While you will pay less for disability coverage for accident only, any unexpected serious illness (like a heart attack for instance, which is often silent before you experience it), could also put you at risk for an extended inability to work.

Also, you should know if your long-term coverage takes into account other disability programs, like Social Security. If it does, your disability pay could be even lower than the percentage of your salary that is stated as your benefit. Since you can actually depend on receiving any benefit's from Social Security, given today's tougher rules to qualify, the inclusion of these benefit's will have reduced your payout and you could be left hanging for the difference.

You might think that this insurance is a waste of your money. Of course, you never want to have to col...

Click here to read the rest of this article from Insurance Guide 101

About Us | Contact Us | Link to Us | Privacy Policy | Terms of Use | Insurance Resources | Sitemap