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How long does long term disability lnsurance last?

Luke Brown

Answered Last

There is no fixed answer to this question, because it depends upon the terms of the contract. That is, disability insurance benefits, assuming they are not government-provided benefits such as Social Security Disability, are paid pursuant to a contract (insurance policy) between an insurer and an insured.

If you are a covered under a group long-term disability policy (for example, provided through your employer), the Human Relations Department will be able to provide you with the specifics of the duration of benefits.

If you have an individual policy (one that you have paid for), you would have selected the duration of benefits at the time that application for the policy was made. Assuming that the policy was issued by the insurance company upon the terms requested, that duration of benefits would apply.

Another factor to consider is that disability benefits will continue under the policy for as long as you are determined

to be disabled per the policy definition of "disabled". That is, some policies are written as "own occupation" policies, which means that generally, you will continue to be considered disabled for as long as you are unable to perform the material duties of the job that you held at the onset of your disability. Other policies are written as "any occupation" policies. These generally require that you be unable to perform any sort of occupation in order to collect benefits.

Finally, keep in mind that all policies will have a finite end time for the payment of benefits. This may be expressed in terms of an age (for example, 65), or in the number of years that benefits are paid. Also, most disability policies have an elimination period on the front end. This is generally similar to a deductible (in a property and casualty policy) but is measured in terms of time that has to pass before benefits begin to be payable.

Category: Insurance

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