Long Term Disability Insurance

Not necessarily! It depends on the type of disability you are claiming, and whether a medical professional feels you are still unable to work after the initial two-years. For a disability like Parkinson’s Disease, for example, you would not likely go back to work full-time even with medication and physical therapy. In this instance, your insurer would continue to pay benefits until the end of the contract (usually age of retirement maximum).

Your insurance company may require you to take an “any occupation” test, which would confirm that you are able to work in an occupation other than your original job. If you pass the test and can work, your insurance company may terminate benefits after the initial two-years.

Yes. As you continue to receive your insurance payments from your long term disability insurance claim, you must keep your insurance company and employer informed of any changes to your condition. This includes positive or negative changes which may impact your return to work. You must also follow any obligations outlined in your policy. For example, some insurance companies require long term disability claimants to complete tests to prove they are unable to work at their current or any job. You may also be required to attend therapy sessions, depending on your disability type.

This depends on the type of insurance you have, and whether you are covered through work, or privately. In Ontario, your employer may terminate your contract if it seems unlikely you will ever return to work. However, the company you work for may have disability coverage which allows them to retain your employment as the insurer pays you a living wage until you can return to your duties. You can speak to your broker about these details and opt for extended coverage if needed.

If your condition improves to the point where you can return to work, your long term disability benefits may cease. However, if you are still unable to perform your previous job duties or any other work due to your disability, you may continue to receive benefits.

Yes, self-employed individuals can typically apply for long term disability insurance. However, the process may differ slightly from traditional employment-based coverage. It’s essential to discuss your options with an insurance broker to determine the best course of action for your situation.

Coverage for pre-existing conditions varies depending on the policy and insurance provider. Some policies may exclude coverage for pre-existing conditions for a specified period, while others may offer coverage with certain limitations or exclusions. It’s crucial to review the terms of your policy carefully to understand what is covered.

The timeline for receiving long term disability benefits can vary depending on the insurance provider and the complexity of your case. In general, it may take several weeks to months for your claim to be processed and approved. Working with an experienced insurance broker can help expedite the process and ensure you receive the benefits you’re entitled to promptly.

Whether you can receive long term disability benefits while working part-time depends on the terms of your policy and the extent of your disability. Some policies may allow for partial disability benefits if you are still able to work but have experienced a reduction in income due to your disability. It’s essential to review your policy and discuss your options with your insurance provider.