For most, the thought of falling victim to an injury that renders you disabled rarely crosses the mind. That's unless your career is in a dangerous field, or you partake in a risky hobby. However, an abrupt injury or illness could mean that your time in employment must be put on pause or come to an end. 

Suppose you find yourself unable to work for an extended period or ever again. There's no need to panic about how you're going to pay your bills if you have long term disability insurance. It picks up where the standard short term disability coverage, that's often supplied by your employer, ends.

Long Term Disability Insurance Cover 

To be long term disabled in an insurer's eyes means to be unfit for work for an extended period due to illness or injury. The amount of time is entirely circumstantial and can vary from several months to a lifetime. It aims to protect your income in these circumstances, ensuring that you can afford your lifestyle and bills (medical or otherwise). 

Long term disability insurance will cover up to 80% of your lost salary during this time away from work. Furthermore, if you have to take a lower-paying job because of the disability, your policy may make up the difference. 

The Essential Requirements for a Claim 

Every policy and plan will hold varying requirements for eligibility to claim. First, you must check that your illness or injury is defined as a disability under your insurance policy. From here, you can also decipher the degree in which you're considered disabled and how much payout you could potentially receive. 

The most common disabilities included in this type of insurance include: 

  • Cancer

  • Hearing loss

  • Vision loss

  • Arthritis

  • Back conditions

As mentioned, if you're able to go back to work in a reduced capacity, your policy may halt your payments. Alternatively, the insurer may pay the lost salary under a partial disability clause. 

Several scenarios will exclude you from claiming this type of insurance. For instance:

  • Injury due to criminal activity

  • Driving when under the influence

  • Civil disobedience

  • Self-infliction 

If you're having difficulty claiming long-term disability, then a lawyer can assist you to help you fight for your rights to benefits, state those at diamondlaw.ca

Add-Ons to Your Insurance 

Most long term disability insurance plans will allow you to add other benefits. These aim to help you tailor your insurance and enhance your coverage where you need it. These are known as riders. Adding a rider will increase your monthly premiums. Nevertheless, they cover various scenarios not typically included in the standard plan. 

Residual Disability Rider

A residual disability rider protects you from losing income if you're eventually declared as partially disabled. As discussed above, if and when you're able to go back to work due to your disability may have to take a lower-paying job. Some policies will make up the difference, and others won't. The purpose of this rider is to ensure you get your monthly benefit payment regardless. 

Future Increase Rider

This type of rider allows you to add to your current policy without the underwriting process. It's useful when your annual income increases or if your group coverage through an employer ends. 

Final Words

Planning for the worst-case scenario is never a pleasant thing to think about. However, it's better to be prepared and protected. Long term disability insurance and riders will ensure that your income is secure. In return, you and your loved ones won't be hit by financial struggles if the worst does happen.