Dedicated Lincoln Financial Disability Claims Attorneys Representing Clients Nationwide
At Disability Insurance Law Group, our national claims attorneys know that mergers and acquisitions of insurance companies are a fairly common practice.
For our clients who purchased Jefferson-Pilot Corporation disability policies, the company was purchased by The Lincoln Financial Group, which means all Jefferson Pilot policies and disability benefits are administered and paid through Lincoln Financial Group.
Despite the merger between Jefferson and Lincoln, the policies remain valid and in force as long as premiums continue to be paid.
As a subsidiary of Lincoln National — its parent company with over $162 billion in assets under management — all the short-term and long-term disability policies are currently sold under the name of The Lincoln Financial Group.
Concerns have been raised about Lincoln Financial Group’s long-term disability policies, particularly regarding delays in claim approval, difficulties with customer service, and claim denials.
That is why we are here. Our disability insurance attorneys represent Lincoln Financial policyholders across the nation — no matter where they live or work in the U.S. — with only their best interests and true success in mind so our clients can pursue the benefits they are entitled to from their employer-provided coverage or their personal policies.
What is the Difference Between Short-Term and Long-Term Disability Benefits?
Short-term disability (STD) and long-term disability (LTD) benefits are two types of insurance coverage designed to provide financial support when an individual is unable to work due to a disabling condition.
Here are the key differences between short-term and long-term disability benefits:
DURATION OF COVERAGE
- Short-Term Disability: STD benefits typically provide coverage for a relatively short period, often ranging from a few weeks up to six months. The exact duration can vary by policy.
- Long-Term Disability: LTD benefits, on the other hand, come into play when a disability extends beyond the period covered by short-term disability. LTD benefits can last several years or until the individual reaches retirement age, depending on the policy terms.
- Short-Term Disability: STD policies often have a waiting or elimination period before benefits kick in. This is the initial period after the onset of the disability, during which the individual must be unable to work before benefits are paid.
- Long-Term Disability: LTD policies also have a waiting period, but it is generally longer than that of STD. It is common for the waiting period to be satisfied during the time covered by short-term disability benefits.
- Short-Term Disability: STD benefits typically provide a higher percentage of the individual’s pre-disability income, often ranging from 60% to 80%.
- Long-Term Disability: LTD benefits may still cover a significant portion of the individual’s income, but the percentage might be slightly lower than short-term disability benefits.
- Short-Term Disability: STD benefits often cover a broader range of disabling conditions, including both illnesses and injuries.
- Long-Term Disability: LTD benefits may have a more specific definition of disability, often requiring a more severe and long-lasting impairment that prevents the individual from performing their occupation or any gainful occupation for which they are reasonably suited.
EMPLOYER VS. INDIVIDUAL COVERAGE
- Short-Term Disability: STD coverage is often provided by employers as part of their employee benefits package. Employees may contribute to the premium, or the employer may cover the cost.
- Long-Term Disability: LTD coverage can also be employer-sponsored, but individuals may purchase individual policies to supplement or replace employer-sponsored coverage.
Understanding the terms and conditions of short-term and long-term disability benefits is crucial for individuals to ensure adequate protection in a disabling condition. It is also important to review policy details, including waiting periods, benefit amounts, and definitions of disability, and consider how the two types of coverage work together.
With over 50 combined years of experience, our national Lincoln Financial disability insurance attorneys know that understanding the definition that dictates your coverage is critical to winning and maintaining your disability benefits.
Whether you are considering applying for benefits, are waiting for a claim’s decision, or have been denied, we can assist you with your Lincoln Financial disability claim anywhere in the country, starting with a free consultation.
We are fully dedicated to providing transparent legal services that allow us to pursue real results for real people who need our help – no matter where they live or work in the U.S.
Contact Our Dedicated Disability Insurance Attorneys Nationwide
If you are receiving resistance from Lincoln Financial for your U.S. disability claim, or if your claim has already been denied, contact our dedicated disability insurance attorneys nationwide at 954-989-9000 or online to schedule a free, confidential case assessment without delay.