Know Your Long-Term Disability Risks and The Benefits You May Be Entitled To
Working at your job, meeting family obligations, and keeping up with social activities or hobbies can keep you so busy that it is easy to lose track of important goals. One of your top priorities should be taking care of your health. Unfortunately, disabilities can easily sideline your dreams for the future and your financial security. Take the time now to assess your risks and any long-term disability benefits you may be entitled to.
Are You at Risk for Disabilities?
While most people think it will never happen to them, Census records indicate that an estimated one out of every five adults suffers from some type of disability. The first step in being prepared is to know your risks. According to Symmetry Financial Group, the following are among the top causes of long-term disabilities in the U.S.:
- Heart disease;
- Lung or respiratory problems;
- Mental health issues, such as anxiety or depression;
- Diabetes;
- Nervous system disorders;
- Cancer;
- Stroke;
- Accidental injuries.
Review your own personal health history as well as ailments or chronic conditions other family members may have suffered from. Seeking treatment early and following all of your doctor’s instructions can help reduce your risks. In terms of injuries, practice safe driving behaviors, use caution when dealing with hazards on your job, and wear the proper protective gear when engaging in sports or other activities.
Know What Benefits You Have Available
Protecting your health is a top priority. It can keep you from getting sick in the first place and can help prevent existing health conditions from worsening to the degree that they result in long-term disabilities. However, even when taking these types of precautions, unexpected events can still occur. To ensure you and your loved ones can weather whatever storms the future holds, be aware of the benefits you currently have in place:
- Social Security disability benefits: Available through the Social Security Administration (SSA), you may be entitled to a claim if you worked steadily and made enough money over the previous years. The SSA offers a benefits planner which can help you determine whether you are eligible and the amount you may be entitled to.
- Employer provided long-term disability benefits: Insurance benefits covering long-term disabilities may be available through your employer. However, it is not uncommon for there to be numerous policy exclusions and provisions which must be met before coverage begins. Under the Employee Retirement Income Security Act of 1974 (ERISA), the plan administrator must provide you with copies of all documents related to your benefits.
Carefully review all benefits provided through your employer and the SSA to determine if you have enough coverage. Purchasing additional long-term disability protection through a private insurer may be an option to consider as well.
Let Us Help You Today
At Farrell Disability Law, our goal is to protect you and your rights to disability benefits. To speak with our Orlando long-term disability attorney, contact our office and schedule a consultation today.
Resource:
dol.gov/general/topic/retirement/erisa#targetText=The%20Employee%20Retirement%20Income%20Security,for%20individuals%20in%20these%20plans.
https://www.mydisabilitylaw.com/eight-common-conditions-covered-by-long-term-disability-insurance/