Not being able to earn an income for any period of time can be very difficult. With no income, people may need to deplete their savings, turn to credit cards or be unable to pay certain bills.
Disability insurance can be very valuable in these situations. Louisiana residents with disability insurance can begin to receive monthly payments after they make a claim and until they can return to work. There are two main types of disability insurance available: short-term disability and long-term disability.
Differences between short-term and long-term disability insurance
The main difference between the two types of disability insurance is made clear in the names. Short-term covers people for injuries that they are expected to recover from within a shorter period and long-term disability insurance is for injuries that will keep people out of work for a long period.
Short-term disability insurance typically provides benefits soon after an injury or disability occurs, often within a week or two. This coverage will also end after a few months regardless of whether people are back at work or not.
Long-term disability insurance will not begin making the monthly payments as quickly. Typically people need to wait a few months before they are start receiving long-term disability payments. However, these disability payments last much longer and could be in place for years.
Like other insurance claims, disability claims can be denied. This is very unfortunate for people who truly are disabled and paid for the insurance for the exact situation they find themselves in at the time. The injured may be able to appeal their denials and still receive the benefits they paid for through their insurance premiums.
Life is unpredictable and there are times when people in Louisiana suddenly find themselves dealing with physical ailments that prevent them from working. It is important that people receive the insurance benefits they need whether it is short-term disability or long-term disability. Experienced attorneys understand the importance of these benefits and may be able to help people receive what they deserve.