Charleston Long-term Disability Repayment

If you were fortunate enough to be covered by a long-term disability insurance policy when you sustained a disabling illness or injury, and your insurer approved the payment of benefits, then you may have avoided the worst of the financial difficulties that such a serious injury or illness can bring. Many of these policies require you to concurrently apply for Social Security Disability Insurance (SSDI) payments.

Repayment Requirements

Furthermore, many LTD insurers require you to repay them if you receive a lump sum payment for past benefits from the Social Security Administration, and your LTD payments will be adjusted based upon the amount approved for your SSDI payments.

For example, if your LTD benefits paid $2,500 each month, and your SSDI benefits were issued for $2,000 per month, then your insurance carrier would revise your payment downward so that you would receive only $500 per month.

The sum of the monthly benefits would then still be equivalent to your policy maximum, with the financial responsibility differently divided. Frustratingly, you may be obligated to repay the difference for the period of time before your insurer modified the structure of your benefit.

We Can Help You

The Charleston workers’ compensation lawyers of the Steinberg Law Firm can help you to avoid being taken advantage of by an overeager insurance company. Although you entered into a contractual agreement with them when you acquired the policy, the nature of insurance jargon may have made it impossible for you to gain a full understanding of the policy’s terms. We can help to interpret some of that confusing language for you.

Don’t Wait to Contact Us

If you have been receiving Long-term disability benefits and are now being told that you have to repay the insurer because you have been approved for Social Security payments, get in touch with the Charleston workers’ compensation lawyers of the Steinberg Law Firm. It is crucial to do so immediately, because as more time that passes, your financial obligation will become ever greater.

You can contact an experienced attorney of the Steinberg Law Firm who is familiar with the repayment process by calling 843-720-2800.