long term disability 19 by Articles Exposed
Published Date: 23/07/07
There are so many things to consider when starting a new job. At the time of new employment it is so easy to consider only the salary that is being offered. Especially young people just starting out want to know how much they are going to have to spend. The fringe benefits are not highly regarded. As people have families and develop health issues the fringe benefits take on more meaning.
Most professional jobs and larger employers offer health insurance benefits for their employees. Many companies are beginning to add additional benefits such as dental insurance and short and long term disability. Short-term disability is to cover expenses if you are out of work up to six months. Long term disability begins once you have been out of work for longer than six months. This insurance pays cash directly to you to help pay your living expenses while you are unable to work. The benefits paid depend upon the amount of cover age you have and also how much money you make.
Long term disability can mean the difference between losing your home, vehicles and way of life that you are used to. Even the best medical coverage is not going to pay for your living expenses. Long term disability is different that workman?s compensation or social security disability payments. Workman?s compensation pays only if you are injured on the job and eventually the benefits end. Social security disability has specific qualifications and may take up to three years to obtain. Long term disability begins once a physician signs a statement that you will be unable to work for more than six months. The benefit continues until you are able to return to work or become retirement age and receive social security benefits. Long term disability will also pay for training and education if you need to switch career tracks due to your disability.
This benefit is very helpful in allowing people to not worry about expenses and or losing their housing at a time when the focus needs to be on getting physically better. There are people that also receive long term disability payments for mental health reasons. If your mental illness causes you to be out of work for more than six months the insurance benefits will begin. You do not need to account for how the money is used or what your expenses are. The benefit is paid in cash to you for you to spend as needed, just like your salary. Most benefits do have a cap amount that is paid. The amount received is usually a percentage of your income.
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