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Focus on Risk: Will Your Group Disability Insurance Plan Pay at Claim Time?

Will your Group LTD Pay at the time of claim? My colleague Ethan F. Abramowitz talks about how group insurance may not pay in the most recent episode of #TheAmberStittShow.

Group = Employer-Provided (and typically employer-paid)
LTD = Long-Term Disability

Disability Income Insurance is generally defined as:

*An insurance carrier will pay the Base Monthly Benefit for each month you are totally or partially disabled, under the terms of the policy, due to accident or sickness…*

In my business, I help professionals and business owners to protect their income protection in their specialties. I find that many just rely on a plan through work that is free to them.

What does free mean to you and your plan?
Free = taxable upon receipt
Free = no portability usually
Free = could have a pre-existing provision in there and at claim time, you could be declined

Since you cannot opt-out of these plans, let’s learn more about what they will or won’t do.

Often work plans have these disadvantages:

-Definition of Own Occupation isn’t for your specialty; it is for any job!
-True Own Occupation Defined
-Employer’s coverage isn’t portable
-Employers can change coverage on your annually
-Tiered coverage that is different per department depending on your position at work

Would you like to speak with Ethan?

Ethan’s Contact Information:
Website: SeltzerLegal.com
Email: [email protected]
Phone: 215-735-4222

Articles for reference:

https://www.seltzerlegal.com/blog/healthcare-professionals-mental-nervous-long-term-disability-claims-jumped-in-2020/

#FocusonRisk #DisabilityInsurance #IncomeProtection #SpecialtySpecific #PhysicianDisability #Residents #Fellows #MD #DO #OD #DMD #DDS #TheAmberStittShow #TakeActionToday

What is your specialty?

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Focus on Risk: Will Your Group Disability Insurance Plan Pay at Claim Time?

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