Some long term disability policies include a provision for residual benefits. These benefits provide people with compensation for loss of income caused by a disability, even if their disability does not prevent them from working. In other words, if a person is still able to earn an income, but is unable to earn the same amount as before due to their disability or period of absence, residual benefits may pay a percentage of the total disability coverage. The percentage of total disability coverage paid to the policy holder is typically based on the percentage of income lost due to the disability.
At Hankey Law Office, our Indiana long term disability lawyers understand that it can seem impossible dealing with an insurance company that denies or underpays your claim. If you or a loved one is having difficulty applying for or receiving benefits, we may be able to help. Contact us today at (800) 520-3633.
Reasons for Residual Benefits
Residual benefits can be provided in a variety of situations where partial loss of income occurs. The following are some examples of what residual benefits can cover:
- Reduced hours due to disability
- Working full time, but without the ability to perform normal duties
- Loss of income after an absence from work due to a disability
Because of what residual benefits usually cover, they are particularly good for individuals who are working their way back to full earning capacity after a long term absence due to their disability.
If you or a loved one is struggling to apply for or receive benefits, an Indiana long term disability benefits lawyer of Hankey Law Office, may be able to help. Contact our offices today at (800) 520-3633 to speak with a qualified attorney about your claim today.