by helmsjayray » Wed Aug 04, 2010 11:16 am
I had to had to back surgery for a wreck that was not my fault I have been drawing my long term disability from work along with gov. disablity for good. How can I keep my company disability going they never offered me to keep paying for it. Is there a way I can keep this going?
Posted: Wed Aug 04, 2010 05:29 pm Post Subject: LTD
I have LTD and have been drawing for about 2 years now its ends in Nov or rather my last payment. Could I keep this policy going? No one ever ask if I would like to and would my checks keep coming? I can't make on SS Disability alone. I am disable for life time (non work related) it was a wreck non fault of mine. that injured me.
I was never offered any ins. continuious on this when I retired from the company and drawing LTD and SSDiability.
Posted: Thu Aug 05, 2010 02:25 am Post Subject:
Usually the answer is no. The salary continuation plan that your company used (and don't worry if you weren't on salary that's just what it' commonly called) looks like it provided benefits for two years and that's it.
If you have no other disability insurance then you are not going to receive any additional checks. And if you did have, you'd most likely be receiving benefits from them.
You cannot extend the company benefits.
You say you were in an accident that was not your fault and you are now permanently disabled as a result. Did you not attempt to sue the at fault party for damages? You are after all in a very tough spot now, especially with your group disability benefits' running out.
Posted: Thu Aug 05, 2010 06:18 am Post Subject:
I have a feeling that if your injury had been work-related, then you could perhaps qualify for workers' compensation benefits. What does your vehicle insurance co. have to say regarding this reck?
Posted: Thu Aug 05, 2010 11:39 am Post Subject: insurance
(Saying this from 'personal experience', dealing with a 'client' of mine..) If you are looking into trying to go after the 'at-fault' party, and keep putting this action off, the MORE time that goes by, the LESS chance you will have to 'succeed'. I say that because I had a 'client' that was in an accident (he was about 43 at the time..448 now). He decided he wanted to 'go forward' with some kind of action suit, etc. he was told he couldn't do this now because he waited to long (SOL,..I'm assuming).
Posted: Thu Aug 05, 2010 04:27 pm Post Subject:
Some group disability policies are LTD. They may use the "own occupation" definition of disability during the first 6 months to 2 years, and then change the definition to "any occupation" at that point, which makes it a bit harder to qualify for benefits. These group LTD policies would have a benefit that runs to as late as age 65, rarely are they a lifetime benefit.
Although LTD policies can be written with lifetime benefits or benefits to age 65, it is unlikely that a company-provided group disability policy would provide that. Most such group disability policies are actually "short term disability" with benefits paid for up to two years of disability, which is what it sounds like your policy is. Employees commonly misunderstand them as long term disability.
Such short term disability policies can be combined with a personal LTD policy that would pay a benefit to age 65 (or lifetime), and have a two-year elimination period to reduce the premium significantly. But you cannot obtain such a policy if you are currently disabled.
There could be a provision in the contract that allows you to continue the coverage as an individual plan after loss of eligibility for the group benefit, but this is highly unlikely. Disability income policies provided as a group benefit are NOT covered under COBRA for continuation. Only health insurance (including dental and vision plans) is eligible for COBRA continuation.
Posted: Thu Aug 05, 2010 10:33 pm Post Subject:
Thanks every one for all the advise - it sure helped me a lot. This is a awesome site !!!
Posted: Fri Aug 06, 2010 12:38 am Post Subject:
Max,
You Califon-i-cation of group disability is apparent. :wink:
Everywhere outside of your state identifies short term disability as being 3 months or less, and everything beyond that long term disability. I know you guys have extremely long (by comparison to most everyone else) short term mandatory disability coverage. In most situations, the OP's group plan would be considered long term. Though the average is 5 years, 2 is not unheard of.
Unfotunately there's not a lot one can do about their limited LTD benefits unless they choose not to enroll and buy individual disability insurance. In the old days, there were carriers that offered future guaranteed increase options that could be exercised and immediate pay claim if someone was on claim and exchausted there group LTD benefits. Those contracts unfortunately have disapeared for new sale.
Posted: Fri Aug 06, 2010 04:49 am Post Subject:
short term mandatory disability coverage
Although it's known as State Disability Income (SDI), the length and amount of the benefit is dependent on the timing of one's claim and the amount of earnings on which the mandatory 0.1% of income was paid. The longest the benefit can run is about 52 weeks, and establishes an answer on the life agent exam about 52 weeks of disability being "short term".
And we know that a person won't qualify for Social Security Disability unless a medical professional certifies that their disability is "expected" to last at least 12 months, and the benefit won't begin until at least 5 "full months" have elapsed (the disability must "exist" on the first day of a month, and be continuous through the last day of the fifth month following that).
Posted: Fri Aug 06, 2010 05:06 am Post Subject:
Everywhere outside of your state identifies short term disability as being 3 months or less
I'm not sure I agree with that statement. The Insurance Information Institute describes short term disability policies as providing benefits for up to two years. All of the CE I've ever done in DI, which is California-approved, but not necessary California-specific, has indicated STD policies range in duration from 6 months to 2 years. The prelicensing courses I've worked on for NV, CO, and TX all include that same information, and the the company also provides courses in all states that require it, and their "national notebook" makes the same assertion.
Honestly, it's not that big a deal, since we understand that a true long term disability is probably going to last at least a year or longer. (You aren't confusing the elimination period with the product are you?)
Obviously, an insurance company can have its products approved with ST or LT disability titles according to its own marketing preference, since most state laws are not so specific as to define the precise concepts of short or long term disability.
And we understand that the "long" in Long Term Care policies is defined in part by the elimination period which can be as short as 30 days (perhaps even less) or as long as 1 year. So anything less than the stated elimination period duration in the contract would be considered a "short term" disability as far as the specific policies are concerned.
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