The Difference between Long Term Disability Insurance and Long Term Care Insurance

Many people who have either long term disability insurance or long term care insurance are confused when their insurance does not cover certain things that the other type of insurance is meant to cover. It is very important to know exactly what a certain type of insurance will cover before applying for it. Find out what type of insurance is more likely to help you in the event of a serious injury.

Long Term Disability Insurance

Long Term Disability Insurance was created to give back a certain percentage of your earning potential after an individual receives a disabling injury on the job site and is no longer able to perform the occupations he or she was trained in. On average, this type of insurance covers about 60 percent of wages that would normally be earned. The time period for coverage is usually between five to ten years but differs from policy to policy.

Long Term Care Insurance

Long term care insurance differs from LTD insurance in that it is not meant to supplement your income in the event of an accident. It is supposed provide a certain amount of coverage for expenses if the carrier needs to receive long term care in a nursing home, assisted-living facility, or home-care program. If a doctor declares that an individual needs assistance with daily living activities, LTC insurance should kick in.

Contact Us

If you would like to learn more about filing a long-term disability claim, or if you would like legal help and guidance while filing your LTD claim, then the Indiana long-term disability lawyers of Hankey Law Office can help. To speak with an attorney about your situation, contact us today at (800) 520-3633.