Disability Insurance for the Long Term

Wellman Shew
3 min readSep 30, 2022

Long-term disability insurance is an excellent strategy to safeguard against job loss if you become unable to work due to a disability. Benefit levels differ depending on the type of coverage and the employer. Maximum monthly benefits are up to $20,000 and can be tailored with optional riders. According to a research conducted by the Bureau of Labor Statistics, only 33% of American workers had long-term disability insurance. Savings accounts can provide a temporary safety net, but most people do not have enough money to cover the cost of a long-term disability.

Some companies provide group disability insurance and will even cover a portion of the premiums. Individual coverage can also be purchased via an insurance agent or a reputable insurance provider. Group policies, on the other hand, are often less expensive than individual coverage. Group long-term disability insurance is available through your company or through an insurance agent.

If you work for a large firm, you might be able to get long-term disability insurance. You can acquire this policy for a portion of your pay if you are an active employee. Long-term disability insurance can pay up to 662/3% of your pre-disability wages for up to a year. The benefit amount will be rounded up to the nearest dollar, so if you earn more than the maximum, you will receive a larger payout.

When purchasing an insurance, you must select how much you wish to pay. Individual long-term disability insurance can be too expensive. Some firms, on the other hand, will purchase it for their employees and create a partnership with a long-term disability insurance provider in order to offer a discount on long-term disability coverage.

Long-term disability insurance provides coverage for a wide range of illnesses, including degenerative diseases, neurological problems, and physical disabilities. You can obtain this coverage by filing a claim with your insurance company. If you are denied, you may retain a counsel to file an appeal. If necessary, the Sokolove Law team will conduct a free case review and assist you in filing an appeal.

The cost of long-term disability insurance varies greatly depending on the type of coverage selected. Some policies only cover partial income loss, but others cover all expenses associated to a sickness or disability that prevents you from working. For further information, please contact your company’s benefits administrator. You could be qualified for a free consultation to consider the purchase of disability insurance.

While short-term disability insurance does not cover long-term disabilities, it can assist you in paying bills and saving for long-term investments. You are also protected against losing pay, bonuses, or commissions under the policy. It goes on even if you change jobs. This means that obtaining long-term disability insurance to protect yourself from financial trouble is worthwhile.

Long-term disability insurance can be used to supplement other types of insurance. It safeguards your pay and can cover up to 60% of your total monthly income if you are unable to work. It is available for purchase independently or as part of a group package. Before making a final decision, you should read the plan summary.

Employers and employees can both benefit from short-term disability insurance. When an employee is unable to work due to illness or injury, it substitutes a portion of his or her income. The coverage can range from a few weeks to a year. Short-term disability insurance can be useful when you need temporary income to cover your regular bills.



Wellman Shew

Fresno resident Wellman Shew has worked in the California health insurance and employee benefits industries for many years as an entrepreneur & business leader