Long-Term Disability Liability
In general, it is the disability insurer that is liable for long-term coverage. Many companies once paid the full amount for long-term disability, but the modern trend has shifted to different options. The most common include a shared cost plan, an employee fully paid plan and an employer fully paid plan.
Coverage Terms
Employers are allowed to choose how much coverage their employees receive with most plans covering between 50 and 70 percent of your monthly salary. The duration of plan benefits varies, but some pay only five to 10 years of disability insurance, while others pay until the age of 65, when retirement benefits are expected to kick in. Depending on your plan rules, you may only qualify for coverage under certain terms. In most cases, you need to work for your employer for a certain amount of time before you are eligible for coverage. You must also work full-time, which is typically 30 or more hours per week. Most long-term plan benefits packages include the payment of a monthly salary that ranges between 50 and 70 percent of your income. These plans typically start between 90 and 180 days. Depending on the terms of your plan, you may be limited in terms of how much coverage you are eligible to receive. You will also have to choose a different career which you are suited for in education or on-the-job training. Highly skilled workers and upper management often have the option of a long-term disability contract that allows them to receive disability benefits for the lifetime of coverage without changing benefits. A disability lawyer in Augusta may be able to provide insight into the details of your plan.
Contact a Disability Lawyer in Augusta
Contact us today to work with a disability lawyer in Augusta you can rely on.