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Essay On Long Term Disability

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What is Long-Term Disability?
A person who is disabled will often face a great amount of financial strain. This is caused because the individual is no longer able to work and will also have an increased amount of medical bills. While one doesn't ever expect to become disabled, this is something that many people face every day.
Many make the mistake of believing that a disability is caused by an accident or by being reckless. This isn't always the case. A disability can definitely be caused by an accident, but it can also be caused by an illness or medical condition that the individual develops. Since these are not things you can typically prevent, it is important to plan ahead for the possibility of a long-term disability.
What is Long Term …show more content…
This is something that is offered to help employees prepare for a time when they may be disabled. While some employers may pay for the cost of the insurance, others may share the cost with their employees or even require their employees to pay for the insurance on their own.
Each plan works a little differently. On average, these types of insurance plans will pay between 50 and 70% of the individual's monthly salary. This payment will continue for an extended period of time, depending on the plan itself. Some plans cover the employee for a certain timeframe, usually between 5 and 10 years, and others pay until the person reaches the age of 65.
What Rules are in Place
As with other types of insurance, there are certain terms regarding when an individual qualifies for long term disability. For example, it is common for a requirement to be in place that the employee be a fulltime employee. This means they will need to work more than 30 hours a week. It is also common for the terms to require the employee to have worked with the employer for a certain period of time. For example, you may not qualify for long-term disability if you haven't been with the employer for a year or

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