Long-term disability insurance is a kind of insurance that can give financial assistance to those with long-term disabilities. This can be acquired in two general ways. One, you can receive it as part of a benefit plan from your employer. Two, you can get it yourself by approaching a long-term disability insurance company.
This kind of insurance has tremendous benefits, so it is not surprising that a lot of people are filing claims, and in turn, a lot of people are also getting rejected of coverage. It becomes a problem if those with legitimate claims have been rejected. But it is a good thing that there are legal professionals who focus on appealing on rejected claims, such as those from Fields Disability. But what are these advantages exactly?
This is the most important benefit of any kind of insurance, and long-term disability insurance is no exception. Financial coverage is often calculated in a way that involves a percentage of your monthly salary. Typically, the percentage is at 50 to 70%.
Having a disability can be financially troubling, especially when you think about the associated medical expenses and the fact that you cannot work and earn money because of your physical limitation. So, even a small percentage of your salary will help pay the bills.
Peace of Mind
Being physically limited can have emotional and psychological effects, including anxiety, depression, disinterest in social activities, and loss of self-worth. Having financial assistance at least reduces the risk of having these effects, considering that you are assured that you have the money to get around.
Peace of mind can also be achieved by those who are not disabled but ensured, because they know that they will have a financial cushion when such a thing even happens.
Having insurance in general creates a better relationship between you and your employer. It shows value, and it gives the impression that you care for each other. The professional relationship between you and your insurer should also not be overlooked.
If you are also disabled, you can still have better relationships, in the sense that a long-term disability insurance can give you financial assistance and peace of mind, so you will not have family and friend problems that can arise from these factors, such as feeling guilty of being a financial burden to the family or increased irritability towards friends.