Long-term disability insurance can help one safeguard themselves from losing their ability to earn an income. Disability insurance can protect you in cases where you could potentially lose your income for an extended period. One must have a long-term disability insurance plan through their employer or independently.
Long-term disability insurance can allow one to claim the benefits, given one meets the conditions that qualify for LTD. Some people claim these benefits individually, whereas others hire lawyers for assistance and guidance. Hiring a lawyer can often provide significant benefits while ensuring fair compensation or settlement for the disability.
How can a lawyer help in the long-term disability claim process?
- Analyzing the policy
A lawyer would first analyze your long-term disability policy. Many insurance policies can be complicated. These complications can likely require an applicant to meet specific requirements. Each long-term disability policy can be different from the other. The lawyer can help the applicant understand the policy and its benefits before starting to claim the benefits.
The lawyer can assist the applicant in understanding the definition of disability as per their insurer, which should be met to collect the benefits. A better understanding of the policy can allow one to collect the benefits effectively in monthly payments and beware of the restrictions or other conditions.
- Laws and regulations
A long-term disability attorney is known for making their client understand the complex laws and regulations. Likely, the federal law ERISA or the Employee Retirement Income Security Act will be applicable in most disability claims if an employer provides the coverage to their employee.
The ERISA and the Employee Retirement Income Security Act can be complicated and consist of complex laws and regulations for meeting the requirements of disability benefits. Although, hiring a lawyer can be advantageous as they can help you understand the complex rules and regulations.
- Insurance company
Similar to the applicant’s requirements for benefits, there are a set of regulations and rules that an insurance company must comply with under state or federal law and the terms of your policy. You should know specific rules for how long an insurance company can take to approve the claim.
However, most insurance companies do not follow these rules which causes a significant delay in approving a claim or appeal. In such cases, the lawyer can hold the insurance company accountable for the policy terms and various laws they must follow. A lawyer’s assistance can prevent unreasonable delays for claims or appeals and help the applicant to seek a fair complication.