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The Difference Between Long-Term Disability Insurance and Social Security Disability by Parmele Law Firm PC
1.
The Difference Between Long-Term Disability Insurance
and Social Security Disability
Many people use the term long-term disability and social security disability
interchangeably, but they are two different payments made to the
benefactor. Understanding the difference will allow you to make preparations
for uncertainty in your life.
Social Security Disability
Social Security Disability (SSD) is a benefit of making payroll payments in
the form of Social Security Taxes. You, if you are self-employed, or
payments made by your employer
on your behalf, afford you the
ability to apply for benefits if you
are deemed disabled by a medical
professional. Of course, receiving
benefits aren’t guaranteed. You
must meet the Social Security
Administration’s (SSA) definition of
disabled and have enough credits to
receive monthly disability
payments. Six months after
approval, you will begin receiving your monthly payments.
The SSA can decline claims made for SSD, even if you are disabled. Many
people find they are more successful when they employ the services of a
disability lawyer who is an expert in disability claims. Even with a lawyer, the
process of getting your disability insurance can be a long and arduous task,
but once approved you will receive back pay along with ongoing monthly
payments.
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2.
Long-Term Disability Insurance
Law doesn’t require long-term disability insurance. Many people purchase
this product as a way to safeguard their income if they are injured or
become ill and can no longer work. Employers, private insurance companies
and associations sell this product to qualified individuals. The amount of
long-term disability insurance you purchase can vary and your monthly
premiums will vary depending on the amount of disability insurance.
Like SSD payments, you will have a waiting period and the duration of the
waiting period will vary depending on where you purchased the insurance. In
addition to a waiting period, many companies require that you apply for SSD
in order to qualify for their long-term disability insurance. In fact, if you are
approved for your SSD, you can collect both checks simultaneously.
When you have been injured or you have been diagnosed with a medical
condition that interferes with your ability to generate and income, both of
these insurance options will help you provide for your family. If you find that
you are not making progress with the SSA then you must arm yourself with
legal representation that will inform you at every step of the process and
knows exactly how to successfully win against the SSA.
Parmele
Law
Firm,
PC
|
(855)
727-‐6353|
http://parmelelawfirm.com/
Discover
more
great
content
here:
http://www.youtube.com/user/parmelelaw
https://twitter.com/parmelelawfirm
https://www.facebook.com/pages/Parmele-‐Law-‐Firm-‐PC/176474659855
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