Myths Regarding Long-Term Disability Insurance

Sharon E. didn't expect that it would be fibromyalgia that would end the career she loved. She always thought that she would continue working as an account executive in the industry that she loved so much until the day she decided to happily retire. She didn't count on a long-term, chronic illness to sideline her with debilitating pain and weakness; making it almost impossible to do her job. Which is why she didn't think twice about her long-term disability insurance benefits offered to her by the company she worked for. She thought it would be something she would never utilize as her job wasn't exactly a dangerous one. Sharon assumed that her health would continue as it had and that she and her family would be fine. Like many Americans, Sharon fell into the trap of believing long-term disability myths about what it is and what it is for. The common myths regarding the insurance include:

  • Myth #1 - I will never need it. Many people bypass employer-sponsored benefits believing that because they are young, are in good health or are employed in generally low-risk jobs, they won't ever need to use disability benefits. the fact is that one in four people become disabled and unable to work before they reach age 67.
  • Myth #2 - I have to quit working to attain benefits. Actually, certain benefits kick in and pay partial benefits even when the person is able to work on a part-time basis because of their partial disability. If you've been denied long-term disability because you're still working, contact an ERISA attorney to find out what your rights include.
  • Myth #3 - I'm too young; it doesn't apply to me. With more than 40% of long-term disability recipients in 2012 being younger than 50 years old and a 33% being under 40, it is a misconception that disability benefits are only used by older workers.

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