Facts About Long Term Disability Insurance in Canton, OH and West Palm Beach, FL

 Insurance is a specific kind of protection from financial risks, depending on the type of coverage or policy. While health insurance is an option that is seldom neglected, individuals at risk of severe injury or chronic ailments may choose to buy long term disability insurance in Canton, OH, and West Palm Beach, FL, from a qualified insurance company. The word long term refers to the extent of obtaining the benefits for being unable to use a limb or any part of the body as required. Such a condition often results in loss of wages and the job when the disability renders the individual unable to deal with the necessary tasks.

The insurance coverage for long term disability (LTD) comes as a welcome relief for individuals who have to deal with disability for an extensive period. While some disabled people may rejoin the workforce after many years, others enjoy the benefits until they turn 65 and are retired.

True, it is essential to check out various aspects of this special type of health insurance. Individuals who are qualified to apply for the coverage include the following:

l Simply stating disability is not enough. Instead, one has to match the definition included within the insurance documents.

l The insurance coverage requires medical underwriting to qualify for the benefits.

l Individuals with pre-existing conditions resulting in disability are not considered to be eligible to receive the benefits.

Another aspect that is of utmost importance is to understand the process of buying the coverage. It is interesting to know that an individual may get the coverage from any of the following sources:

l Employer-sponsored plans- A majority of employers provide LTD coverage to eligible employees as a part of employee benefits.

l Individual policy - Unemployed individuals or those without employee benefits may purchase the LTD policy as standalone coverage.

l Add-On- Many individuals prefer to add the LTD coverage as a rider to be added to their existing health insurance policies.

Individuals hoping to be covered by an LTD policy are concerned about the extent of coverage. The types of coverage are varied and diverse for different insurance holders. Some of the most common coverage that the insured individual can hope to obtain includes the following:

l General Liability

l Professional Liability (Errors And Omissions Insurance)

l Product Liability Coverage

l Environmental Liability Protection

l Directors And Officers (D&O) Liability Insurance

l Some of the prominent exclusions of LTD policies include the following: -

l Self-Inflicted Injuries

l Pre-Existing Conditions

l Injuries Sustained During Extreme Sports

l Criminal Acts

There are a few industries that are at an increased risk of injuries to their employees. Many of the injured employees may be temporarily or permanently disabled, too. The following industries and business entities make sure to add the LTD insurance to their list of employee benefits: -

l Construction Companies

l Manufacturing Companies

l Waste Management Companies

l Chemical Manufacturing Companies

Employers prefer to provide several employee benefits in Fort Pierce, FL, and Cambridge, OH. The employees are provided with multiple group insurance coverage that usually includes Group Life, Dental & Vision, Short-term, and/or Long-term disability for free or discounted rates.