What are the Limitations To My Long Term Disability Policy?


Frank Darras:

"The features, advantages, and benefits of most long term disability policies include a period where you're protected doing your own occupation. That doesn't mean the job description from your specific employer. It means the occupation as it's performed in the national economy. So for example, if you've got travel as part of your sales job it may not be a requirement in the national economy."

"There's typically limitations-- mental nervous, substance, or self-report limitations for 12 months, sometimes 24 months. If you've got chronic fatigue, fibromyalgia, you've got pain but you don't have an MRI or an EMG to objectify your pain, the carrier can limit your benefits to 12, 18, or 24 months. Lastly, there are offsets dollar for dollar. If you get state disability, workers' compensation benefits, Social Security, or if you're injured by a third party, you get $10,000 from the car accident, the carrier is going to offset dollar for dollar for every penny that you get from that that third party."