Dealing with a chronic illness, disease or severe injury can require plenty of rest, which may keep you from working or earning a living. If you are a resident of New Jersey, understanding the definition of “disability” under your long-term disability insurance plan can help you better prepare for extended periods of time away from work.
What is long-term disability insurance?
A long-term disability insurance policy protects the income of an individual who experiences a serious illness or injury that prevents them from working for an extended time. Investing in long-term disability insurance can help to protect your home, investments and other assets during unexpected and trying times in life. Because not all private long-term disability provides the same amount of coverage, it is important to compare policies prior to choosing a plan that is best for you and your family.
What does long-term disability insurance help to cover and protect?
A private long-term disability plan helps to cover and protect a myriad of illnesses and injuries. Your policy may include coverage for:
• Most types of cancer
• Mental health issues, which includes depression as well as various forms of anxiety
• Musculoskeletal disorders and some autoimmune disorders
• Serious injuries such as strains of muscles, sprains and complete fractures
While long-term disability policies may not be right for everyone, they can come in handy for those who do not want to risk losing their homes or other investments in the event of an illness or injury. With proper legal counsel, your private disability insurance may help you maintain your lifestyle as you recover from a debilitating disability, injury or illness.