When you purchase long-term disability insurance, you expect your insurance company to come through when you file your claim.
Unfortunately, insurance companies are for-profit. Every time they pay out on a claim, they lose money. For this reason, you can expect them to do everything they can to get away with denying your claim or reducing the amount they are obligated to pay you.
With that being said, it is important to make sure your application is thorough and complete. A Toronto lawyer can help. Continue reading to learn more about how to apply for long-term disability to increase your chances of approval, when you can use long-term disability benefits, and how much you could expect to receive as part of your claim.
In order to apply for long-term disability (LTD) benefits, you’ll need to start by filing a claim with your insurance provider. You’ll need to provide them with information regarding your disability, your ability to earn a living, and other details as outlined in the application.
You’ll want to be sure that your application is complete and that you provide all necessary documentation if you hope to increase your chances of obtaining a LTD benefits approval. This is because many long-term disability claims are initially denied.
As mentioned, the insurance company will lose money by paying out on your claim, so they may be looking for reasons to deny you the benefits that are rightfully yours. But getting a denied claim doesn’t mean you won’t be able to gain access to your benefits. With the help of a long-term disability lawyer, you could appeal your denied claim and be one step closer to the benefits you deserve.
Long-term disability insurance policies are not the same as the benefits provided to disabled Canadians under the Canada Pension Plan (CPP). People being awarded benefits under the CPP may have their benefits calculated based on a variety of financial and medical factors. But with private long-term disability policies, there is no specific way that benefits are calculated across all LTD policies.
What we mean is this: Every policy is different, and every policy may have different ways that benefits are calculated. Generally speaking, the amount of benefits you will receive once your claim is approved will be based upon your average monthly salary. The exact percentage of your average monthly salary that you’ll receive can vary, but it may be somewhere around sixty percent in many LTD policies.
Your long-term disability lawyer can give you a better idea of how much you could expect to collect after carefully reviewing the details of your LTD policy.
If you have applied for LTD benefits and your insurer has held up or denied your claim, you may need help from an experienced Ontario disability lawyer at Jasmine Daya & Co. When you are ready to take charge of your claim, call our office at 416-967-9100 or complete the convenient contact form included below to schedule your free, no-obligation consultation.