Disability insurance is a topic of which not everyone has a particularly strong grasp. Though many have a general concept of what it is designed to do, alarming numbers of us may not fully realize how vital this type of coverage can be.. Once we begin to comprehend the extremely broad scope of common conditions covered by long-term and private disability insurance, we are certain to become more attuned to how important it is that the terms of such policies be diligently enforced.
A frequently held misconception among many members of the workforce is that disability insurance policies may be nice to have, but are far from essential. This seems to suggest a fundamental misunderstanding of the very real possibility that a disabling illness or injury event will occur, resulting in an inability to continue work. According to statistics released by the Social Security Administration, 25% of all 20-year-olds are destined to become disabled to the point where they cannot work by the time they turn 67.
Many younger workers are also under the mistaken impression that they will be able to rely on Worker’s Compensation in the event of a serious disability. However, the fact is that such coverage is only available to individuals who become sick or injured in the course of their employment, and the majority of long-term disability claims are the result of illnesses that are not job related.
Workers fortunate enough to have access to disability insurance, whether through an employer or otherwise, are well-advised to educate themselves on the role it can play in their overall financial picture. Because the types of conditions that can produce a partial or complete inability to work are so large in number , it really does pay to gain a more detailed understanding of some of the more typical situations resulting in claims under disability insurance policies.
One of the most debilitating conditions causing severe impairment and inability to work, multiple sclerosis is characterized by crippling fatigue, balance problems, muscle coordination issues, speech difficulties and respiratory effects.
This neurological condition produces significant pain, stiffness and numbness in the wrist joints which can render a sufferer completely unable to continue work. Repetitive movements exacerbate the condition, and while an insurance carrier may attempt to dismiss the pain as insignificant, those diagnosed with carpal tunnel syndrome understand its severity all too well.
A cancer diagnosis often signals the onset of a physical decline that renders an individual unable to continue with standard job duties. Often making matters worse are the treatment protocols used to aggressively treat the disease. Taking a severe toll on the body’s immunities and sapping a patient’s strength, both the illness and the treatment can make work impossible for an extended period of time.
This category includes a wide array of injuries which can make routine job-related tasks essentially impossible to complete. Shoulder and back injuries, joint damage and the like are regularly the subject of benefit claims under private and long-term disability insurance policies.
Devastating harm can occur to the brain in a number of ways, including forceful or traumatic impacts, oxygen deprivation, heart attack and stroke. The degree of injury sustained by the brain may not be immediately apparent, but can manifest itself over time. Individuals who suffer brain damage are among those needing disability benefits the most, as their impairment often represents the most serious and lasting of cases.
The conditions and injuries outlined above in no way represent an exhaustive list of the circumstances regularly giving rise to benefit claims under disability insurance policies. Other types of situations and diagnoses under which benefits may be claimed include:
The list of illnesses and injuries capable of producing severe impairment and an inability to work is seemingly endless, and sadly, each day sees new cases of disability in which significant financial resources are needed. If you have become disabled due to one of the common conditions covered by long-term and private disability insurance and are encountering unfair delays or outright denial of your claim, contact Young, Marr and Associates at 1-609-557-3081 for a confidential, no-cost initial consultation.