Facts About Long-Term Disability Insurance in Parkersburg and Charleston, WV

 Investing in an insurance policy can help one avoid many risks. The insurance plans are highly diverse, and one may have to go through the terms & conditions carefully before saying yes to the product. While life and health insurance are the two most important types of coverage that every individual has to consider, one may think of being covered by long-term disability insurance in Parkersburg and Charleston, WV, as well.

The idea holds ground as being disabled can put one at considerable risk of life and health. Awareness of the policy and its inclusion and exclusions is always essential. It suffices to know that long-term insurance is a unique insurance coverage that will provide lost wages up to a limit when one cannot work due to an injury or illness. This coverage will remain valid for an extended period and is usually provided for five years or more. A disabled individual may obtain it right up to the day of retirement.

The extent of benefits provided varies sharply! While it may not equal income, it offers at least 60% to 80% of the monthly salary to the disabled person. This enables them to pay the daily costs and bills as needed. The coverage does not kick in immediately after a claim is filed, however. Instead, one would have to wait for a period of 90 days to a year. The time depends on the insurance carrier and the terms of the plan.

Qualifying Factors

The long term disability insurance is provided to individuals who qualify for it. While the policy may be provided as part of employee benefits, it may also be purchased by individuals. While each carrier defines disability in their manner, understanding the following terms may prove beneficial for the recipient:

Own-occupation disability- Inability to work on a specified task that had been the profession of the disabled person

Any-occupation disability- Being incapable of handling any kind of tasks both within and outside the area of expertise

Coverage Inclusions

Some of the common conditions covered by the policy include the following:-

· Musculoskeletal Disorders

· Cancer

· Fractures And Sprains

· Muscle And Ligament Tears & Strains

· Mental Health Issues

· Heart Attack

· Stroke

· Conditions Affecting Blood Circulation

One must file a claim and wait for a specified period to obtain the benefits. The coverage will only become active subject to approval by the insurance company.

Exclusions

This type of insurance covers every health condition, especially pre-existing conditions. Some of the most common exclusions include:-

· Pre-existing conditions

· Crime-related injuries

· No coverage for convicted persons

· A disability that occurs during incarceration

· Revoked professional certification or license

· Self-inflicted injuries

· Active participation in a riot

· War or act of war

· Workplace injuries

Most employers provide group health insurance in Beckley and Morgantown, WV, as a part of employee benefits. This ensures a win-win situation for all concerned.