Indeed, we began discussing long-term disability insurance, which generally provides those suffering from life-changing medical conditions with monthly benefits totaling close to 60 percent of their salary until they are either able to return to work or reach Social Security retirement age.

In today’s post, we’ll continue our discussion of long-term disability insurance, focusing on some of the more common reasons advanced by employees for why they feel they don’t need it.

Isn’t the Possibility of Suffering Some Sort of Disabling Medical Condition Fairly Remote, Particularly for Younger Workers?

While the primary reason most people decline to sign up for long-term disability insurance is the belief that they will never actually need it, consider that statistics from the Social Security Administration reveal that in 2012 alone over 650,000 disabled workers received over $9 billion via long-term disability insurance policies offered by their employers.

Furthermore, SSA estimates from that same year predicted that an astounding one out of every four 20-year-old workers would become disabled and otherwise unable to return to work until the age of 67.

Wouldn’t Workers’ Compensation Coverage Be Enough?

Workers’ compensation insurance is designed to replace lost income resulting from a work-related injury or illness. However, statistics show that a very small percentage of disabling illnesses and accidents are work-related (5 percent), and that the bulk of long-term disability benefits (90 percent) are related to illness.

In simpler — and perhaps more morbid terms — consider that you’re more likely to be diagnosed with a condition like lupus than you are to be hit by a falling pallet.

Can’t a Person Always Just Buy a Long-Term Disability Insurance Policy on Their Own?

Individual long-term disability insurance policies can indeed be purchased, but experts indicate that this coverage is typically much more expensive than that offered by employers.

What the forgoing serves to illustrate is that employer-provided long-term disability insurance policies can prove to be exceedingly valuable in the event of an unforeseen illness or injury. As such, those who have seen their benefits unjustly denied should consider speaking with a highly skilled legal professional to learn more about their options. 

Has Your Home Insurance Company Denied Or Undervalued Your Property Damage Claim In Florida?

If your insurance company is dragging their feet regarding your property damage claim you should speak with an experienced insurance claim lawyer as soon as possible. Please contact us online or call our Florida law office directly at 800.451.6786 to schedule your free consultation. We help Florida residents just like you fight the big insurance companies who fail to abide by their own policies. Remember, we work on a contingent basis, meaning you don't pay us anything until we win your case. 

K.C. Williams III
Managing Partner who has spent his entire career representing Florida insurance and personal injury claims.