Nobody wants to think about what would happen if he or she was injured or struck ill, making it a challenge for him or her to work. While you may think you are invincible, you never know when something bad could happen.
There are many reasons why it is important to have a long-term disability plan in place, including the fact that this will allow you to continue living your life should you become injured or ill.
There are people who rely on disability insurance provided by their employer. There are also those who pay for an individual policy. Then there are people who realize the benefits of having both.
If you receive insurance from your employer, employee group or union, there is a good chance it is governed by ERISA law. The same cannot be said for an individual policy.
Long-term disability insurance is not something you plan on using. However, it is something you want to have in place in case something bad happens. Not only will this provide you with money while you are recovering, but it will allow you and your family to feel better about the future.
Under ERISA law, you have rights as somebody with a disability insurance policy. At the same time, insurance companies are required to live up to certain obligations.
If an insurance company has neglected to pay you for any reason, it is time to consider your many options. For more information on what you can do and your rights as a policyholder, browse our ERISA long-term disability lawyers webpage at your earliest convenience.
Source: DARRASLAW 1643704, “ERISA Long-Term Disability Lawyers” Sep. 15, 2014