If you're the sole breadwinner, you need to be concerned about income stability. If you're like most people, you only think about unemployment when considering income stability. But, medical conditions can lead to loss of income stability as well. Unfortunately, if a medical condition isn't caused by an on-the-job event, you could find yourself without any source of income, especially if you haven't done any advanced planning. That's where long-term disability insurance comes into the picture. Long-term disability insurance will provide you with a monthly income when you're unable to work due to a medical disability. If you've invested in long-term disability insurance, and you've experienced a disability that prevents you from working, it's time to apply for benefits. If you're not sure how to proceed, here are some tips that will help you through the process.
Submit a Detailed Application
If a disability has put you out of work and you need to rely on long-term disability benefits, the most important thing you can do is submit a detailed application. Many people don't go into enough detail when applying for long-term disability benefits. Unfortunately, that can put them at a disadvantage. Don't make that mistake. Instead, provide detailed answers for every question on the application, especially those that pertain to your disability. The more detailed you are with your answers, the less likely it is that your application will be denied.
Apply for Social Security Disability
If you've experienced a long-term disability and you need to apply for long-term disability insurance benefits, don't forget about your Social Security disability benefits. As soon as you apply for long-term disability insurance benefits, take the time to apply for Social Security disability benefits, as well. It can take several years to be approved. Your long-term disability benefits will provide you with a source of income while you go through the lengthy process to be approved for Social Security benefits.
Monitor All of Your Correspondence
If you need to apply for long-term disability benefits, you can't afford to breeze through your incoming mail. You will receive continual correspondence from the insurance company throughout the application process. Some of the correspondence will require your response. Unfortunately, if you fail to respond promptly, your application could be delayed or denied. To reduce that risk, begin monitoring your mail as soon as you submit your application.
Be Prepared for the Possible Denial
If you plan to apply for disability benefits through your long-term disability provider, prepare yourself for a possible denial. There are a number of reasons why your application may be denied. Providing insufficient medical evidence is one reason for a denial. If you receive a denial letter, the most important thing you can do is hire an attorney. An experienced long-term disability attorney can ensure that your appeals packet includes adequate medical evidence. Reach out to a firm like Iler and Iler to get started.