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When writing up a long term disability policy, insurers often use fine print, in order to insert a few facts about little loop holes. Consequently, a fair number or policy holders fail to read that fine print. Hence, those same men and women remain unaware of the times when their coverage might be cut off. This is a deceptive strategy, and one to which anyone filing a claim should be alerted
Examples of loop holes that can be overlooked
Sometimes the size of the benefit package going to a disabled policy holder gets reduced, if that same individual has an additional source of income. When that happens, the benefit package can be much smaller than expected.
At times insurers put limitations on the period of time during which the policy holder is covered. For instance, coverage might be denied, if the injured victim gets an inappropriate treatment. By the same token, such a denial could be made, if the policy holder had not taken part in an approved rehabilitation program. Furthermore, a policy holder that leaves the country (Canada) for more than 4 months could have his or her benefits cut off.
Seldom will insurers grant benefits to someone whose disability has resulted from a pre-existing condition. Yet there are 2 exceptions. The benefits will keep coming if the policy holder had been covered by an employer for at least 13 weeks, or had become disabled just 12 months after purchasing the long term disability policy. In other words, if you have a pre-existing condition and get hired by a new employer, you had better be in excellent health. Still, if you required surgery during the 12 months after you began your new job, you would still have grounds for demanding a continuation of the expected payments.
Typical provisions that get covered up by the fineness of the print
No payment until 6 months after filing a claim. Policy holder must rely on either short term disability coverage or collected savings.
Payments made during the first 2 years get issued when the disabled victim cannot perform the duties in his or her original job. After 2 years, the insurance company carries out a review. At that point, it will refuse to pay the disabled victim, unless that same individual can prove that he or she lacks the ability to perform well in any occupation. That is why it becomes important to hire Personal Injury Lawyer in Orillia to help you with the legalities.
Policy holders are normally given time in which to receive training in another occupation. Still, their expected benefits might be suspended until the same training has been completed. Obviously, at this point, few families have much in the way of savings, which might have been used to substitute for the missing benefits.