Regardless of how old a New Jersey resident is, it may be a good idea to purchase a disability insurance policy. Research suggests that up to 25% of all workers will experience a significant injury before they reach their retirement age. While those who are classified as employees may have access to long-term disability insurance (LTD), self-employed individuals may need to purchase their own policies.
In some cases, an LTD policy will provide financial resources to an injured worker until that person turns 65 or recovers from his or her injury. Typically, those who experience mental health issues will receive benefits for up to two years. A person who doesn’t qualify for a plan through an employer or can’t afford private insurance may want to consider applying for benefits through the federal government. Individuals who seek disability insurance benefits through the Social Security Administration (SSA) must have a condition that will prevent them from working for at least 12 months.
They must also be below the retirement age of 65 to 67 and have worked for at least five of the previous 10 years. Those who are seeking government disability benefits are encouraged to apply as soon as possible as it can take up to five months for an initial application to be reviewed.
Those who are seeking Social Security Disability Insurance (SSDI) benefits might be able to apply for them on their own. However, it may be easier to do so with the help of an attorney. Legal counsel may be able to help an individual collect medical records or file paperwork in a timely manner. This might maximize a person’s chances of obtaining benefits with an initial application. If an application for benefits is denied, it may be possible to appeal the decision.