How will you handle a disability claim?

No matter how hard you try, or how healthy your lifestyle, there may come a time when you become disabled. Depending on when this happens and your employment status at the time, you may find that you are in a difficult financial position.

If you get injured or ill and have disability insurance, you should be able to collect compensation on a monthly basis until you are back on your feet and ready to take over your job responsibilities once again.

There are several steps to take if the time comes to file a disability claim:

— Know your rights as outlined by your individual and/or group disability insurance policy.

— Learn more about the application process. As an individual, you can contact your insurance company for assistance. If you receive disability insurance through your employer, don’t hesitate to consult with the HR department.

— Focus on the benefits provided and term. How long will you receive disability benefits? Can these be terminated for any reason?

— Get ready for the appeals process. Even though you may think your disability claim is cut and dry, your insurance company may have a different thought in mind. This could lead to a denial, which will put you in a bad position. At this point, you have to learn more about the appeals process, including how to move forward as efficiently as possible.

The way you handle a disability claim may not be the same as the next person, however, there are basic steps you can take to remove stress from an already challenging time in your life. If things get bad, such as if your claim is denied, you may wish to consult with an attorney.

Source: Inc., “How to Handle a Disability Claim” Dave Smith, Sep. 22, 2014