Ortiz Law Firm is dedicated to helping people recover the disability benefits they deserve. We handle group Long Term Disability (LTD) claims, individual disability insurance policy claims, ERISA disability claims, and Social Security Disability claims.

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Schedule Of Benefits In A Long-Term Disability Insurance Claim

A schedule of benefits is a document that outlines the amount and duration of benefits that an insured individual is eligible to receive under a long-term disability insurance policy. The schedule of benefits typically includes information about the following:

  1. Monthly benefit amount: This is the amount of money that the insured individual will receive each month if they become disabled and are eligible for benefits.
  2. Benefit duration: This is the length of time that the insured individual will receive benefits if they become disabled and are eligible. The benefit duration may be a fixed period of time, such as two years, or it may be until a certain age, such as age 65.
  3. Elimination period: This is the period of time that must pass after the individual becomes disabled before they are eligible to receive benefits. The elimination period may be a set number of days or weeks, such as 90 days, or it may be based on the individual’s medical condition.
  4. Maximum benefit amount: This is the total amount of benefits that the insured individual can receive under the policy. The maximum benefit amount may be expressed as a dollar amount or as a multiple of the insured individual’s pre-disability income.
  5. Other benefits: The schedule of benefits may also include information about other benefits that the insured individual may be eligible to receive, such as cost-of-living adjustments, survivor benefits, or rehabilitation benefits.

The schedule of benefits is an important document to review when purchasing a long-term disability insurance policy, as it outlines the key terms and conditions of the policy and helps the insured individual understand the benefits that they can expect to receive if they become disabled and are eligible for benefits. It is important to carefully review the schedule of benefits and to understand all of its terms and conditions before purchasing a policy.

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