Long Term Disability Insurance: How to Get It

Long term disability insurance is an insurance policy that protects your income if you become unable to work for a long period of time, usually more than a year.  It’s rarely offered by the employer as a benefit, so most people have to look for their own way of getting one for themselves, a process that can be complicated at times.

So, how exactly can you get a long term disability insurance? The process usually takes around 6 weeks to complete and is done in a few steps:

 1. Choose an insurance provider that offers the best quotes.

2. Fill out the paperwork with basic info on yourself, your job details and income documentation.

3. Sign the authorization form to allow the insurance provider to receive your health information.

4. Schedule and take the medical exam (height, weight, pulse, blood pressure and a blood and/or urine sample). Make them aware of any preexisting health conditions or diseases you might have.

5. Talk to an insurance representative and answer their questions about your health, lifestyle, habits and medical history.

6. Wait for your insurance policy to be prepared according to the previous information you’ve provided (the more complex your lifestyle and health, the longer this period is).

7. Buy your long term disability insurance policy through signing the delivery receipt and authorizing a payment method to activate it.

With this, your long term disability insurance policy is active and you’re protected against any potential loss of income.

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Advantages Or Benefits Of Long Term Disability Insurance

Having long term disability insurance may seem costly, but when you compare it for the invaluable benefits it can potentially bring to you, it’s clear why so many people decide to have one for themselves.

While the value you can potentially get from long term disability insurance if you’re injured an unable to work is apparent, having long term disability insurance has some other major befits you may not realize.

Part of those benefits include:

·         Your family is financially safe because you will have a guaranteed monthly source of income

·         You will be able to cover all your monthly expenses, including utilities, rent, groceries or debt payments

·         You will have a steady income even if you are unable to keep working as previously

·         It allows you to take the time to heal and recover from your injury

·         It offers you peace of mind that regardless of what happens, you and your family will be protected financially

·         Minimizes the risk of you falling into major debt or becoming depressed as a result of your stress

·         You won’t need to purchase additional disability insurance policies

·         If long-term disability insurance is bought through group coverage, it makes it more affordable

As you can see, there are so many benefits arising from having long term disability insurance, and not only financial ones as many may think. In the end, with long term disability insurance, you, your family and those around you are protected through it, something that is priceless.

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Requirements for long term disability insurance

Before you apply for long term disability insurance, you need to get familiar with the requirements to have one. These requirements depend on a variety of factors, predominantly from the long term disability insurance policy you’ve previously signed and on the insurance provider you’ve chosen.

In general, all long term disability insurance plans have some general aspects and terms you need to become familiar with, as well as how they work.

Full time or part-time work

Most long-term disability insurance plans require that you have a full-time job at the moment of disability. The exact definition of what a full-time job is and the working hours needed are usually described in the long-term disability insurance policy, so before you get your long-term disability insurance, make sure to get information on exactly what is included.

Elimination period

When you’ve experienced a long-term disability, before you’re eligible to receive long term disability insurance benefits, there is usually a waiting period. This period varies depending on your long term disability insurance policy and your provider, as well as you having or not having short term disability insurance. These factors are individual, so make sure to consult your insurance agent on what the conditions are for your long-term disability insurance policy.

Pre-existing conditions

Most long-term disability insurance policies have a section with pre-existing conditions that are excluded from the long-term coverage. To put it simply, conditions which are not covered in the long-term disability insurance plan, but only if you have them a certain period of time prior to signing the long term disability insurance policy. If these conditions or illnesses happened after you got your long term disability insurance, you will be eligible to receive long-term benefits for it.

Covered conditions 

Before you sign your Long Term Disability Insurance Quote policy, make sure to check which conditions are excluded from it. There are jobs that carry a risk of specific long-term disabilities, and if your job is one of those, you need to confirm that that type of disability is covered in your long-term disability insurance policy.

People slowly realize that long-term disability insurance is not only a benefit that’s good to have, but it’s also becoming a necessity. There are so many unpredictable things that can happen in life, some of them can leave you disabled for a long period of time. These types of situations require long-term disability insurance to be had, so the person can be protected not only financially, but also emotionally and psychologically.

We can provide you with highly-qualified and experienced insurance agents from across the country that can help you with anything related to long-term disability insurance. They can clarify any uncertainties you have, answer all your questions and offer you a long-term disability insurance plan that will protect your finances in the long run.