Why Purchase Long Term Disability Insurance?

Any insurance you buy is a personal risk-reward analysis. Any time you choose not to insure something, you're taking on some amount of risk. Insurance eliminates, or vastly reduces, that risk. Life insurance provides peace of mind, in that it mitigates the loss in income to your family if you were to pass on. Health insurance mitigates the possibility of high healthcare costs, especially for complex procedures. Automobile, homeowners, and renter's insurance all insure your property against unknown disaster. Long term disability insurance is another option.

Long term disability is another risk you can insure against. If it is something that you can afford, the knowledge that you are mitigating the potential risks and ensuring that you and your family will be secure if something ever occurred. It can be a valuable resource in protecting both your finances and your mental well-being if anything should happen that requires long term disability insurance.

Long-term disability payments don't replace your salary in the event of something happening. They provide income protection in the event that an illness or accident prevents you from working for a period of time, in other words: a financial buffer that is usually around 60% of your salary.

Questions to Ask When Considering Long Term Disability Insurance

A question to ask yourself if you are debating whether or not to get long-term disability insurance is: "Could I afford the consequences of not having long term disability insurance?" Examining your finances may show that you will be okay for the short-term if something were to happen, but beyond that, it may be wise to explore the option of long term disability insurance.

Another thing to ask is "Does my employer provide long-term disability insurance?" If you are self-employed, or are not covered under your partner's benefits, it may be beneficial to look at long-term disability insurance for yourself or your loved ones. If you are employed at a company and subsequently receive benefits, you may need to purchase additional benefits to cover long-term disability. Worker's compensation replaces lost income if an illness or injury occurs on the job, but these cases are only a small percentage of disability cases. The majority of long-term disability claims are for illnesses, not accidents.

While having such insurance doesn't guarantee that the insurance company will pay you in the event that you are unable to work, if you don't have such insurance, you will not be able to recover disability benefits from a disability insurance company.

Exploring your options with long term disability insurance can provide you with the peace of mind that you will be able to handle any extenuating circumstance that arises. There are a number of options for long-term disability insurance plans, including timing, levels of coverage, and specifics on how that coverage is delivered. They have a plan for every price point, which can put you at ease if your current employment, health status, or financial situation causes you to worry.


A note from our long term disability lawyers

Taking a medical leave from work is not an easy decision to make. Concerns about providing for yourself and your family and keeping your job may cause you to want to push through your pain, but this won’t make your problems go away. Stopping work is often the smartest decision for your long term health and well-being, and your disability benefits are there to provide you with financial support until you can return to work.

If you have made the tough decision to stop working and apply for your short term disability or long term disability benefits, you may feel overwhelmed by the process and have questions that your employer and your insurance company are not able or willing to answer. Share is There to see you through and answer your questions.

Our disability law firm knows what you have been going through

We understand that things have not been easy for you over the last little while. Your health has been suffering, you are unable to work, and now your insurance company, who was supposed to be there in your time of need, has decided they will not pay your disability benefits or respect your disability claim. These benefits exist to provide you with the financial support you need so that you can focus on your health and rebuilding your life. It is unfortunate that your insurance company has not lived up to its promise. If your disability claim has been denied, we will fight to get you the benefits you are entitled to. Our disability lawyers have helped thousands of Canadians get their long term disability benefits over the past 35 years, and we can help you too.

Our experienced disability lawyers can fight back on your behalf

Share Lawyers believes that every client who is dealing with a disability claim deserves superior personal service. To achieve that goal, we have developed our team of experienced, compassionate, and caring long term disability lawyers, law clerks, and administrative staff to meet all of your needs. Our team of experienced long term disability, life insurance, employment, and critical illness insurance lawyers have made successful claims against many insurance companies, third-party administrators and employers.

If you are unable to work, your disability benefits should be there to provide you with the financial support you need. While your insurance company may be focused on finding ways to avoid paying your claim, our focus is on what is in your best interest. When Share Lawyers gets involved, you have an entire team of lawyers that are there to support you and to fight for what is yours.

Our disability claim lawyers fight for your disability insurance claim by relying on our many years of experience to apply the best strategic planning and approach in each case, using the latest technology available. Experience matters, and with Share Lawyers, you are in the best hands with 35 years of success on your side.

In this video, we explain the role of a long term disability lawyer and how we can support you when you have been denied your long term disability benefits.

Denied your long term disability claim?

Contact 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. Join us on Facebook and become a Top Fan for a chance to win each month.

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