Disability Insurance Benefits, News and Claims

According to the American Council of Life Insurers one third of all Americans between the ages 35 and 65 will become disabled for more than 90 days and one in seven workers will be disabled for more than five years.

 

Disability insurance is sold by insurance companies as a product that can replace a portion of your income if you are unable to work due to an accident or illness.

The most common types of disability insurance policies sold are:

1) Short-term disability insurance

2) Long-term disability insurance

3) Business-Overhead expense insurance

4) Business Buyout Insurance

Disability Insurance is often confused with Social Security Disability Insurance (SSDI).

SSDI is a government benefit that a person may be eligible for if they worked long enough and paid social security taxes. In addition there are some states that provide short term disability benefits. Most individuals obtain a disability insurance policy through their employer, association, union, or from an insurance broker. There are more than 40 insurance companies that sell either short term or long term disability insurance.

GROUP V. INDIVIDUAL DISABILITY INSURANCE POLICY

If you purchased your short-term or long-term disability policy through your employer or received your long-term disability coverage as an employee benefit, then your disability policy is almost always subject to ERISA regulations. The Employee Retirement Income Security Act of 1974, also known as “ERISA”, is a federal law that sets the minimum standards for pension plans and disability insurance plans in the private industry. The principal purpose of ERISA was “to protect… the interests of participants in employee benefit plans… by establishing standards of conduct, responsibility, and obligation for fiduciaries of employee benefit plans, and by providing for appropriate remedies … and ready access to the Federal courts.” ERISA is a very complex statute which sets forth claim handling procedures that insurance companies must follow when administering a long-term disability claim. The ERISA claims procedures statute for the handling of ERISA disability claims is 29 CFR Section 2560.503-1. Some group disability policies are exempt from ERISA if you are a government employee, church employee, or you purchased your policy through a group or association which is not your employer. Most group disability plans will provide an individual with a monthly benefit equal to 66 2/3 of the insured’s pre disability occupation. The benefits will usually end at age 65 or SSDI age.

Individual disability insurance policies are purchased from an insurance broker. Indiviudal disability policies are exempt from ERISA. Individual disability policies are sold with specific monthly benefit amounts based upon the insured’s income at the time of applying for benefits. Individual disability policies can be sold with a benefit payment period from as little as 2 years to a max of lifetime. Most long term disability policies define disability as the inability to perform the duties of your occupation for 24 months, and then definition will change to the inability to perform the duties of any occupation for which you have experience, education or training. Individual disability policies are always more expensive than Group disability insurance policies as they usually offer better coverage and are not governed by ERISA. In general there are two main types of disability policies: Short-Term Disability (STD) and Long-Term Disability (LTD).

In most developed countries disability insurance is provided by the national government. For example, the UK's version is part of the National Insurance; the U.S.'s version is Social Security (SS), specifically, several parts of SS including Social Security Disability Insurance (SSDI) and Supplemental Security Income (SSI). Government disability insurance is a safety net that catches everyone who was either (a) otherwise uninsured or (b) otherwise underinsured. As such, they are very large, very important programs, with many beneficiaries. The general theory of the benefit formula is that the benefit is not large but is enough to prevent abject poverty.

SOCIAL SECURIY DISABILITY

The US Social Security and Supplemental Security Income disability programs are the largest of several Federal programs that provide assistance to people with disabilities. Both are administered by the Social Security Administration and only individuals who have a disability and meet medical criteria may qualify for benefits under either program. Social Security Disability Insurance pays benefits to you and certain members of your family if you are "insured," meaning that you worked long enough and paid Social Security taxes. Supplemental Security Income pays benefits based on financial need.

Workers compensation

Workers compensation (also known by variations of that name, e.g., workman's comp, workmen's comp, worker's comp, compo) offers payments to employees who are (usually temporarily, rarely permanently) unable to work because of a job-related injury. However, workers' compensation is in fact more than just income insurance, because it may pay compensation for economic loss (past and future), reimbursement or payment of medical and like expenses (functioning in this case as a form of health insurance), general damages for pain and suffering, and benefits payable to the dependents of workers killed during employment (functioning in this case as a form of life insurance).

Veterans Benefits

The various kinds of compensation and insurance that are provided to military veterans by organizations such as the U.S. Department of Veterans Affairs (VA) are very much analogous to workers' compensation, with soldiers, sailors, and marines being the analogues of the worker. In both cases, the overall compensation system involves more than just one type of insurance, but rather encompasses health insurance, disability income insurance, life insurance, and even mortgage insurance on VA mortgages. The scope of each of these is limited. For example, the life insurance aspect is limited only to paying (rather small) survivors' benefits to survivors of veterans killed in the course of their service; it is not a general term life policy.

Insurance Articles

Pub. Date	Topic	Author
2011-12-02	Employee Absence and Disability Productivity Management	The Standard
2011-11-24	Disability Income Insurance - Important Tips from Dave Jones	California Department of Insurance
2011-11-11	Discretionary Clauses in Disability Insurance Policies Banned in California	Donahue & Horrow, LLP
2011-09-30	Disability Insurance for Federal Government Physicians	MR Insurance Consultants
2011-09-08	FERS Disability Retirement Benefits for Government Physicians May Not Fully Protect	Financial Balance Group
2011-08-09	Suggestions and Advice When Shopping for Insurance	Julianne
2011-07-25	How to Speed Up Your Disability Claim	Colonial Life
2011-07-20	Insurance Plans for Individuals with Challenging Health Conditions	United Security Assurance Company of Pennsylvania
2011-07-15	Tax-Free Disability Insurance Benefit for Physicians	Corporate Compensation Plans, Inc.
2011-06-30	Buying Disability Insurance Later - The True Cost	MR Insurance Consultants
2011-06-24	Insurance Agents Drop in Health Insurance Products Commissions	Summit Business Media
2011-06-21	Disability Insurance Services - Join the DI Revolution	Disability Insurance Services Inc.
2011-06-15	Buy deVere Group Healthcare Online	deVere Group
2011-06-13	Short Term Disability Insurance for Pregnancy	Supplemental Maternity Insurance
2011-06-12	Raising Awareness of Social Security Disability Insurance	Marshall W. Conick, Attorney at Law
2011-06-09	Drop in Number of Workers with Disability Insurance	The Hartford
2011-06-09	Basic Insurance is Not Enough	Simplistic Resolutions
2011-06-08	Real Cost of Accidents and Illnesses - American Workers Not Prepared	Aflac
2011-06-06	Active Purchaser Options for Health Insurance Exchanges	The National Academy of Social Insurance
2011-06-06	Free Online Disability Insurance Quotes and Policy Comparisons	Disabled World
2011-06-03	Health Management Services - Manulife Financial	Manulife Financial
2011-06-02	The Standard Now Provides Electronic Disability Policy Delivery	The Standard
2011-05-27	Educating Federal Employees About Disability Insurance	Wright USA
2011-05-15	Choosing Disability Representation Services	Milam Law
2011-05-14	Are You Uninsurable? Long-Term Care Insurance	Jennifer St. James
2011-05-04	Undervaluing Importance of Your Paycheck	LIFE Foundation
2011-05-03	Disability Income Insurance a Must for Singles Wanting to Protect Their Income	MetLife
2011-05-02	The Cost of Being Healthy	American Academy of Pediatrics
2011-05-02	Disability Insurance Awareness Month - May	CIGNA
2011-04-29	Concern for Medical Residents Buying Disability Insurance	MR Insurance Consultants
2011-04-29	Importance of Group Disability Protection Benefits	Lincoln Financial Group
2011-04-26	Health Insurance for Children Under 19	United Security Life and Health
2011-04-25	Disability Insurance Coverage for Your Paycheck	Disability Insurance
2011-04-25	What Will You Say - Disability Insurance Services Campaign	Disability Insurance Services Inc.
2011-04-12	Private Disability Contractors Fabricating an Insurance Crisis	Florida's Children First
2011-04-11	The Very Real Chances of Suffering Serious Illness	Drewberry Insurance
2011-04-07	Income Armor Individual Disability Income Insurance	Disability Insurance Options
2011-03-27	Dumbest Insurance Fraud Cases	Life Quotes, Inc.
2011-03-07	After Divorce - Insurance Information and Facts	Law Offices of Scott David Stewart
2011-03-04	Disability Insurance Gaps and Opportunities in the Workplace	MassMutual
2011-02-28	Disability Insurance for Types of Employment	Sean Denny
2011-02-23	Credits and Insured Status Information	Disability Group Inc.
2011-02-21	Avoid Using Social Media Until Your Insurance Claim is Resolved	Doyle Raizner LLP
2011-02-17	Critical Illness Insurance	Colonial Life
2011-02-08	Low-Cost Turnkey State Health Insurance Exchange Technology Solutions - Microsoft	Microsoft Corp.
2011-02-04	Close the Gender Gap in Heart Health and Disability	Allsup
2011-02-01	Over 50s Life Insurance Essential	Retirement Solutions Ltd
2011-02-01	XLHealth Chronic Condition Special Needs Plan	XLHealth Corporation
2011-01-31	California Insurers Continue to Deny 26% of All Claims	California Nurses Association/National Nurses United
2011-01-20	MedAmerica and AIMS Launch FlexCare	AIMS Benefit Solutions
2011-01-17	Types of Disability Insurance	Disabled World
2011-01-13	To Ensure Continued SSI Benefits Keep Your Address Up To Date	Shifrin Newman Smith Inc
2010-12-22	3 in 4 Campaign Addresses Boomer Long-Term Care Insurance	3in4 Association
2010-12-13	Buying Life Insurance with Serious Health Condition	Life Quotes, Inc.
2010-12-04	Critical Illness Insurance Forecast to Be Growth Opportunity Next Year	Disability Insurance Services, Inc.
2010-11-29	Single Employees Less Likely to Have Life Disability Coverage	Colonial Life
2010-11-29	ING Employee Benefits Expands Voluntary Employee Benefits Efforts	ING U.S.
2010-11-23	Guide to Reducing Cost of Long-Term Care Insurance	LifeSecure Insurance Company
2010-11-02	Domestic Medical Travel Spurs Insurers to Increase Offerings and Reduce Employers Costs	Health Options Worldwide (HOW)
2010-10-26	Which Long-Term Care Policy Should I Get	LTC Financial Partners LLC
2010-10-14	COPD and Disability Benefits	Allsup
2010-10-12	Children's Health Insurance Coverage	University of Minnesota
2010-10-10	Insurance - Medical Temporary Health Insurance Plans	Insurance Medical Temporary
2010-10-08	How Will the Affordable Care Act Affect 15M. Uninsured Young Adults	Commonwealth Fund
2010-10-07	Decision of Some Health Insurers to Drop Children's Coverage Statement by NPAF	National Patient Advocate Foundation
2010-10-03	Children's Health Insurance - Parents Perspectives	American Academy of Pediatrics
2010-10-03	The SSDI Process Following Workplace Injury	Robbins & Associates, P.C.
2010-09-30	New Health Insurance Exchanges Should be Independent	Commonwealth Fund
2010-09-29	Patient’s Bill Of Rights Implements New Consumer Protections	Congressional Documents and Publications
2010-09-29	US Senate Examines Concerns with Disability Insurance	Disability Insurance
2010-09-25	Disability Insurance for Trades and Blue Collar Workers	Mitch Reynolds
2010-09-24	United States Senate Finance Committee to Investigate Long-Term Disability Insurance Claims	Disability Attorneys Dell & Schaefer
2010-09-22	Questionable Medical Claims Up 10 Percent	National Insurance Crime Bureau
2010-09-18	Is Disability Insurance Worth It?	ChristianPF.com
2010-09-15	Do Insurance Companies Know Who the Good Doctors and Surgeons Are?	American Academy of Orthopaedic Surgeons
2010-08-28	Tips for Settling with an Insurance Company	Injury Law Center - Law Offices of Jack Bloxham
2010-08-27	Diabetes and Social Security Disability Insurance - You Might Qualify	The Law Offices of Goodson & Piemonte, P.C.
2010-08-22	Choosing Between Disability Insurance and Critical Illness Insurance	Lorne Marr
2010-08-20	Critical Illness Insurance Cover for Peace Of Mind	Mike Armstrong
2010-08-15	Obama Administration Should Require Broad Financial Disclosures from Health Insurers to Scrutinize Unreasonable Rate Hikes	Consumer Watchdog
2010-08-07	Getting Social Security Disability Insurance	Robbins & Associates
2010-08-03	Anthem Life Insurance Integrated Approach in Colorado to Health and Disability Management with Productivity Solutions	Anthem Life Insurance Company
2010-08-03	Disability Insurance: The Need Is Now	AccuQuote
2010-08-02	Will Insurance Companies Pass on the High Cost of Obesity	Obesity Disease Center
2010-07-19	Fox Insurance Agrees to Pay Delinquent Medicare Part D Claims	National Community Pharmacists Association
2010-07-09	Disability Insurance Free Webinars	Disability Insurance Services, Inc.
2010-07-04	Enhanced Guardian Disability Insurance Coverage for Small Businesses in New York	The Guardian Life Insurance Company of America
2010-06-24	Disability Income Insurance Broker Software	Disability Insurance Services, Inc.
2010-06-08	Disability Insurance Services and Custom Benefit Plans Announce New Relationship	Disability Insurance Services, Inc
2010-05-27	Remember Social Security Disability Insurance during Disability Insurance Awareness Month	Allsup
2010-05-25	Early Stages of SSDI Claims Process	Jonathan Ginsberg
2010-05-25	SSDI Hearings - Claimant Credibility	Jonathan Ginsberg
2010-05-25	Importance of Medical Records in SSDI Claims	Jonathan Ginsberg
2010-05-24	SSDI Video Hearings Cases	Jonathan Ginsberg
2010-05-18	Heart Disease and Social Security Disability Benefits	Jonathan Ginsberg
2010-05-13	Americans Not Protecting Themselves with Disability Insurance	Principal Financial Group
2010-05-10	Main Reasons SSDI Claims are Denied	Jonathan Ginsberg
2010-05-06	Awareness for Disability Planning and Prevention - UnitedHealthcare Specialty Benefits	The Council for Disability Awareness
2010-04-29	Less Than 50% of Americans out of Work Because of Disability Had Income Protection	MetLife
2010-04-27	Bad Faith Insurance Claims - Texas	Law Office of Julie Johnson
2010-04-17	Unum Named Favorite Disability Carrier	Unum
2010-04-13	Heart Attack Patients Without Health Insurance Delay Care	JAMA and Archives Journals
2010-04-02	Fighting Unfair Disability Insurance Denial	Sokolove Law
2010-03-10	Americans Hit Hard by Economy Risk Knockout Without Disability Insurance	QuoteRetriever.com
2010-02-15	Health Insurance Websites Popular Among Americans	comScore, Inc.
2010-02-03	SCAN Health Plan for Seniors and Low Income Applicants	Disabled World
2010-02-03	SCAN Health Plan California	SCAN Health Plan
2010-01-18	Insurance Shopping Steps: Education, Comparison and Purchasing	2Insure4Less.com
2010-01-08	How to File a SSDI Claim	Allsup
2010-01-07	Guardianship Problems for Children with Disabilities	MassMutual Financial Group
2010-01-06	Timely Tips for Parents Expecting a Baby	MassMutual
2009-11-17	Disability Applicants Report Facing Foreclosure, Lost Health Insurance, Drained Retirement Savings and Worsening Illness	Allsup
2009-11-06	Attorney Disability Insurance LLC Launches Website for Attorneys and Law Students	Attorney Disability Insurance LLC
2009-11-05	Call on States and Communities to Get Health Coverage to Uninsured Children	HHS Press Office
2009-10-28	Breast Cancer and Critical Illness Insurance	Frank N. Darras
2009-10-06	Health Insurance Reform Essential for Women - Pelosi	Office of the Speaker of the House
2009-10-05	Disability Insurance Website - KF Financial, Inc.	KF Financial
2009-09-09	Role of Social Security Disability Insurance for Obtaining Medicare Benefits	Allsup
2009-08-11	Denying Insurance Coverage and Discriminating Against Pre-Existing Medical Conditions	HHS Press Office
2009-07-21	Individual Health Insurance Market Failing Consumers	Commonwealth Fund
2009-06-02	Out of pocket Healthcare Costs Rise for Workers with Employer Coverage	Commonwealth Fund
2009-05-05	Disability Insurance Payments for Accident and Illness	Tristan Andrews
2009-05-04	Critical Illness Insurance During National Stroke Awareness Month	The Guardian Life Insurance Company of America
2009-05-04	Protecting Your Biggest Asset - Your Income	PR
2009-05-02	Ways to Protect Your Paycheck from Disabling Illness or Injury	Guardian Life Insurance Company
2009-05-01	Americans Taking Serious Risks Without Disability Insurance	LIFE
2009-04-25	Insurance Coverage Affects Access to Quality Cancer Care	Fox Chase Cancer Center
2009-04-16	Canadians not Confident They Have Enough Insurance Coverage	Manulife Financial
2009-04-08	Long Term Disability Family Care Reimbursement Benefit	Lincoln Financial Group
2009-04-02	Assistance Living with a Disability and Seeking Financial Support	SSC Disability
2009-03-23	AARP Health Insurance and Medicare	AARP
2009-03-21	Health Insurance COBRA OBRA HIPAA Medicare Definitions	Carolyn Magura
2009-03-18	Health Insurance in the UK	Gareth Owen
2009-03-18	Information on Shopping for Health Insurance	Gareth Owen
2009-03-18	UK Health Insurance Tips	Gareth Owen
2009-03-14	Why Disability Insurance is Important	Carolyn Magura
2009-03-12	Disability Insurance Explained - USA	Carolyn Magura
2009-03-11	Hartford Disability Claims Service Helps Workers Back to Work Faster	The Hartford Financial Services Group, Inc.
2009-02-24	Health Insurance Essential for Health and Well-being	National Academy of Sciences
2009-02-05	Health Insurance Options for the Self Employed	Disabled World
2009-01-23	Only One in Ten Unemployed Workers Obtain COBRA Coverage	Commonwealth Fund
2009-01-02	Taking Responsibility for Your Own Health	Kevin Gianni
2008-12-31	Choosing Health Care Group Plans vs Individual Insurance Plans	Laura Caldwell
2008-12-30	Holidaymakers with Disabilities Should Check Travel Insurance	Sofia Abasolo
2008-12-29	Benefits of Travel Insurance	Greath Owen
2008-12-21	Benefits of Disability Insurance	Bernard B.
2008-12-21	Disability Insurance Facts	Jo Thomas
2008-12-17	Group Disability Supplemental Insurance Plans	John Massa
2008-12-17	Pregnancy Disability Insurance	John Massa
2008-03-18	Social Security Disability Benefits Essential for Sound Financial Planning	Allsup

• Disability Insurance Videos

<a href="http://www.disabled-world.com/disability/insurance/">Disability Insurance Benefits, News and Claims</a> - In general there are two main types of disability policies short term disability and long term disability insurance.