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The Importance of Long Term Disability Insurance

The Importance of Long Term Disability Insurance

By:

Posted May 25, 2018

Most people think that unless they are employed in a dangerous job or participate in a risky hobby, they have very little risk of becoming disabled. They view a long term disability policy as unnecessary and an expense that they can safely avoid.

According to the Council for Disability Awareness almost 25% 20-year-olds have a chance of becoming disabled sometime before they retire and the average long-term disability absence from work lasts almost three years. Having access to disability benefits if you are unable to work is extremely important. Not many people can easily get by financially for three years without any income.

The leading causes of disability claims include musculoskeletal and connective tissue disorders such as neck and back pain, joint, muscle and tendon disorders and foot, ankle and hand disorders. These are medical conditions that can afflict anyone at any age.

A disability can deprive you of your ability to work, make a living, and contribute to your family’s finances. While some people may be able to rely on their savings to make ends meet for a few months, few people can afford to stop working for a prolonged period of time.

Long-term disability policies are meant to provide “peace of mind”, for those who are unable to work for medical reasons by providing an income replacement. This financial assistance may be required for an extended period.

Most people get long-term disability insurance through their employer. If you are not covered by a group disability policy through work you should consider purchasing individual long-term disability insurance on your own.

This blog post was written by Edward (Ted) Masters, a member of the Disability Insurance Claims and Personal Injury teams.  He can be reached at 613-566-2064 or at ted.masters@mannlawyers.com.

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Ted Masters

Ted Masters

My practice is focused on helping people who have been injured in car accidents or through medical negligence or who have been denied disability insurance benefits. With over 40 years of experience as a personal injury lawyer, I understand how a serious injury or denial of disability benefits affects not just my individual client, but their entire family. I am alert to each client’s individual physical, emotional and financial needs and challenges. I work to achieve an outcome that is client focussed. As a trained mediator, I understand that my client’s personal goals must be met in order to come to a satisfactory resolution of their case, preferably through a reasonable settlement, but by trial judgement if necessary. Although assisting individuals has been the focal point of my legal career, my clients get the benefit of my wide range of litigation experience including disability claims, intellectual property litigation, commercial disputes, Indian... Read More

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