Before you file for ERISA long-term disability benefits, there are many things you need to know.
It’s always important to know certain things about your long-term disability policy before you file a claim for benefits, especially if your policy is governed by ERISA. If you haven’t already, check out our long-term disability (LTD) attorney’s latest blog to learn about the things you need to know that we’ve already gone over. Here are a few more things you need to know before applying for benefits:
#6. If your claim is approved, your benefits will not be equal to your salary.
Many people think that LTD benefits will cover their entire salary, but unfortunately, that isn’t the case. The amount of benefits you get will depend on your own specific policy, however, in most cases, you’ll get approximately 60 percent of your salary.
#7. Not all LTD policies cover you until retirement.
While some LTD insurance companies will keep paying your benefits until you reach the age of retirement, not all companies will. In fact, many LTD insurance companies will only give you benefits for a set amount of time, typically five to 10 years. Check your policy to learn the specifics.
#8. Your medical records and your doctor’s opinion play a big role in getting LTD benefits approved.
If you are thinking about filing a claim for LTD benefits, it is incredibly important to consult your doctor ahead of time. It is of the utmost importance that you make sure that your doctor sends all of the relevant medical evidence, because it is almost impossible to introduce new medical evidence if you are denied and have to appeal.