The truth about long-term disability insurance (LTD)

Long-term disability insurance policies are designed to provide financial assistance to policyholders who can no longer continue earning an income as the result of a debilitating illness or injury. Though no two policies are the same, individuals who have LTD may want to take note of the following:

  • Taxes are deducted from LTD policies that are provided by employers. Personally purchased LTD policies are not taxed.
  • LTD coverage provided by employers is often limited compared to policies purchased personally.
  • Many LTD policies have a two-year coverage limit.
  • LTD policies provided by employers are non-transferable, meaning if a policyholder gets a new job then he or she is no longer covered by LTD benefits of the previous employer.

The attorneys at the Hankey Law Office in Indiana represent individuals afflicted with long-term disabilities. If you are in such a situation, we may be able to offer you legal assistance to help you obtain the benefits you need for recovery. Call our office today at (800) 520-3633 to learn more about your legal options.