Long-Term Disability Claims for Professionals: A Guide

Long-term disability insurance is designed to provide employees with protections against lost income in the event they are unable to work for extended periods. Long-term disability provides income replacement – at a specific percentage – for a specified amount of time. Professionals, such as doctors, lawyers, business executives, and licensed professionals, all have a lot to lose in the face of long-term disabilities, which makes having a better understanding of how this coverage works important. If you’re a professional who is facing a long-term disability, don’t wait to connect with an experienced Illinois disability insurance attorney today. 

LTD Coverage

All Illinois insurance is regulated by the Illinois Insurance Code, which is governed by the Illinois Department of Insurance (IDOI). The terms of long-term disability (LTD) coverage are based on the claimant’s inability to perform the duties of his or her profession, and they depend upon the policy that’s in place. Typically, coverage provides 60 percent of the claimant’s lost income and covers losses caused by the following:

• Accident or injury
• Illness or disease
• Mental health disorder

The amount of the benefits paid often depends on how the disability is classified. Consider the following:

• A total disability is one that prevents you from working at all at the present time (but that you may recover from). 
• A partial disability is one that stops you from working at your regular capacity.
• A presumptive disability is one that is easy to identify as being permanent (or that is reasonably presumed to be permanent).

If you are a professional who’s suffered a long-term disability, the total financial loss you experience can be immense, and bringing your strongest claim is paramount. 

Own Occupation vs. Any Occupation LTD Policies

Some LTD policies are categorized as own occupation coverage, and some are categorized as any occupation coverage, and the difference for professionals is critical. If yours is an “own occupation” policy, it covers you when you are unable to perform the duties of your specific profession. Own occupation policies cover your inability to engage in your profession – even if you are capable of working in a different occupation. Any occupation coverage, on the other hand, allows coverage to be denied if there is another occupation you’re capable of taking on. The language of your policy controls the coverage, which makes purchasing the correct coverage for you critical. 

Own occupation policies are important for professionals but obtaining coverage that is specific to your profession can be complicated. Further, the claims process is far more challenging, and having professional legal counsel backing you up is well advised.

Discuss Your Claim with an Experienced Illinois Disability Insurance Attorney today

The formidable Illinois disability insurance attorneys at Bartolic Law recognize how challenging LTD claims for professionals are and are well equipped to skillfully advocate for your claim’s most advantageous outcome. To learn more about how we can help you, please don’t delay contacting us today.