A recent Forbes article candidly addresses the ongoing health pandemic and its unprecedented impact on individuals and families across the United States and globally. It duly notes that “if this year has taught us anything, it is that we are more vulnerable than we like to admit.”
That’s certainly true, isn’t it?
The uncertain times that presently confront us will hopefully be supplanted by measures and solutions that will once again imbue us with greater control in the near future. In the meantime, though, many of us do indeed confront new elements of risk and the unknown.
Forbes points to one risk that is collectively outsized and a ready potential at all times, pandemic or not. That is the possibility for an individual to deal with one or more disabilities – sometimes of a permanent nature – that can be flatly life-upending.
Readers who think that such a development is a relatively rare occurrence will be surprised by what is actually the case. The U.S. Centers for Disease Control reports that “one in four adults has a disability that impacts major life activities.” The possibility that any given American will become disabled at some point in life is both real and pronounced.
Having disability insurance if such an outcome occurs, is fortunate of course, notwithstanding that insurers’ policy terms and claim responses are highly variable. Forbes spotlights one demographic that is comparatively advantaged by having company-sponsored (ERISA) disability coverage, especially a long-term disability policy. The financial publication notes that less than 40% of adults who become disabled are employed and have a company safety net they can somewhat rely upon.
Even ERISA LTD coverage can throw up obstacles and limits that challenge an insured. Claim payments might be capped in a tightly circumscribed way. Challenges can be thrown up regarding the extent and duration of a disability. Certain treatments may not be accepted by the insurer.
Individual who have employer-linked benefits disability benefits should never passively accept an insurer’s delays or denials concerning their long term disability claim. They can direct questions or concerns to a nationally proven and aggressive disability benefits law firm.