Navigating the complex world of long term disability benefits can be a daunting task. One common question our disability lawyers hear is, "What happens when long term disability ends?" In this blog post, we will help you understand what happens when your long term disability ends.
What happens when long term disability ends: Understanding your benefits
Long term disability benefits are typically provided by insurance companies to individuals who are unable to work due to a physical or mental disability. These benefits serve as a financial lifeline, replacing a portion of the individual's income for a specified period or until they reach the age of 65, depending on the policy.
However, this is a simplified explanation. The life cycle of long term disability benefits isn't always linear. The definition of disability, for example, often changes after two years (24 months) of receiving benefits. This change, known as the Change of Definition, can cause a disruption in the flow of benefits.
Change of Definition: the turning point
The Change of Definition usually involves a shift from an "own occupation" definition to an "any occupation" definition. Initially, long term disability benefits are payable if you cannot perform your "own occupation." After the change, benefits are only payable if you cannot work in "any occupation" that aligns with your education, skills, or experience.
While initially, insurance companies assess whether you can return to your specific job, post-change, they evaluate your ability to perform any job. If they determine that you're capable of working in any capacity that matches your qualifications—even at a minimum wage job—your benefits may be discontinued.
The close of long term disability benefits
So, what happens when long term disability ends? The cessation of long term disability can have significant implications. Financial hardship is one of the primary concerns. With the stoppage of benefits, individuals must find alternate sources of income. This could mean returning to work, albeit in a different capacity or field, or seeking other forms of financial assistance, which may or may not be available to them.
Do your best to plan ahead
Understanding the ins and outs of your long term disability policy is crucial. Knowing when and how your benefits might end can help you prepare for the transition and mitigate potential financial and health-related challenges. Consult with a disability lawyer or a financial advisor to understand your policy better and to plan for the future.
Remember, the end of long term disability benefits doesn't necessarily mean the end of financial support. There are other avenues and resources available. It's all about planning and staying informed.
And so, the question "What happens when long term disability ends?" is best answered by understanding your disability policy, being aware of the Change of Definition, and preparing for the next steps. It may be a complex journey, but with the right knowledge and guidance, it's a journey that you can navigate successfully.
Denied your long term disability claim?
Contact the disability insurance lawyers at Share Lawyers today and put our experience to work for you. Our 35+ years of experience can help you win your case against Canada Life, Desjardins, Manulife, RBC Insurance, Sun Life, and other insurance companies. We offer free consultations and there are no fees unless you win your case.