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| *Loan,banking and credit>>>disability insurance |
If you receive SS disability does that mean that the insurance co. can't deny long term disibility benefits? |
If you receive SS disability does that mean that the insurance co. can't deny long term disibility benefits? It totally depends on the policy. You'll have to read it to see if the LTD policy will still pay if the person is awarded Social Security disability benefits. In some cases, you'll be able to draw on both up to the policy limits of the insurance policy. But there may be some LTD policies that reduce your benefits if you also collect SS disability. Some disability policies have a different difinition of disability than what SS does. Some companies will also reduce benefits because you draw SS. You need to check your policy to see what it does. It depends on what the contract with the insurance company says. The best way to get reliable information is to contact the insurance company and then, if you do not like the answer, consult with an attorney. no...because basically the government sees upon the person who is disability. By example, in some college; from the ppl w disability, the gov helps them pay their bill. no. They are two different types of coverages. SS Disability has one set of criteria, and the insurance company has another. Frequently, an insurance company policy has a clause that says, you must be disabled from ANY form of employment. You can buy that back with a "usual and customary" endorsement. Sometimes they will exclude disability from a specific or preexisting cause. Insurance companies rarely cover "mental" disabilities, while SS does, for example. Anyway, the insurance company has to comply with the terms of it's contract - and the SS office doesn't have to. So just because either one of them applies, does NOT mean that both do. they have to pay till retirement. |
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