subject: Group Long Term Disability Claim [print this page] In many cases, youll find that some individuals becomes disabled to work and unable to earn their livelihood but are lucky to get a long term disability insurance facility.
In general, there are several types of long term disability plans. You can choose any one that suits your needs in a batter way. One such option is "individual disability" insurance. This particular policy can be purchased on privately basis through a reliable insurance agent. These policies have a defined benefit amount and the period is also listed clearly. To avail the policy, you have to prove your disability within the tenure of this policy.
Another important type of insurance policy is Group Long Term Disability," which is given as a part of a benefit package that you avail through your employment. Earlier, this option was available in the white collar sector but now, it is even open for blue collar workers as well. In such plans, either the employer pays as an individual basis or the workers share the responsibility of the payment. Whatever the arrangement is, the benefits paid to disabled employees are taxable as the same amount that is paid by the employer. It simply means that if both the employer and the employee contribute 50% of the total amount, they both are liable to get 50% of benefits each.
If you want to avail benefits of group long term disability insurance plan, contact your employer at the earliest. Try to know their policies on it and pay accordingly to avail the benefits in a longer run.
