Check Long-Term Disability Benefits When You are not an Employee

Long-term disability insurance, also known as LTD comprises a portion of an employee’s income when he or she fails to work owing to serious health issues. According to the program, one can get around 50 to 70% of your gross salary during this particular leave of absence. However, a lot of people happen to claim the benefits of this insurance, even when they are no longer an employee of their respective companies.

Every year, a huge mass of people come with the same problem to the professional Toronto employment lawyer. Albeit, they have different reasons, the focal point remains same, i.e. claiming of an LTD after getting termination by an employer.

If you are an employed individual, it’s high time, you suffice your grey cells with this much controversial topic. Here’s an overview of the disability insurance and its overlook employee benefit drafted by a prominent Toronto employment lawyer:

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  • Defining the Disability

When a regular employee fails to make it work for a long period, LTD kicks in. Depending on the age of an employee at the time of this disability, the employee provides the benefits of LTD. In Toronto, the benefits of this insurance are paid up to the age of 65 years during the phase of long-term disability.

According to the professional Toronto employment lawyer, the payable amount is calculated on the ground of an employee’s basic compensation prior to the disability. You must be thinking, with such benefits, what’s the underlying problem that keeps bothering people.

Here comes the catch point. At times people claim to claim the benefits even when they are no longer in association with their companies. They need to understand, there’s a certain allowance of period when it comes to leave of absence. For instance, if an employee doesn’t work for more than 24 months, the employer has the right to terminate the employee. In such cases, he can’t claim his benefits of LTD.

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  • Coverage Terms and Responsibilities

Almost all the companies provide disability insurance to their employees. Generally, it is funded by a third party insurer. Depending on a person’s designation and career graph, they can opt for tailor-made plans and benefits. You can consult a Toronto employment lawyer to help you choose the best plan of LTD. Some of the benefits you  can expect are:

  1. Starts after a period of 90 to 180 days after signing the deal
  2. Can meet all your financial needs during the phase of disability
  3. Hassle-free process

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However, you need to meet certain criteria before you get these advantages:

  1. You have to work for minimum 30 hours every week
  2. Even when the coverage comes in vogue, you have to maintain a regular working hour

You can get all these done with the aid of a professional lawyer. He will help you to understand the terms and conditions related to this policy. An estimable Toronto employment lawyer can even come to rescue during the phase of unemployment. So, before you hit the rock bottom, get a lawyer today. Not to forget, prevention is always better than fighting legal cases.