Long Term Disability (LTD) in Massachusetts is a program that allows you to receive regular income when you are disabled. It protects you and your family by providing a steady income while you are recovering from injuries or illness.Why the Need of Long Term Disability Program?
According to a report by Bankrate, in June 2014, around 25% of Americans do not have sufficient savings to cover even six months of their rent, mortgage, car payments, bills and other expense in the event they become disabled or severely ill. Therefore, the sole purpose of the Long Term Disability program is to secure the rights of such people. In case a person is unable to work for 90 days straight due to an illness or an injury, the LTD program will ensure that you receive income replacement.
It Cares for Mental Health Disabilities
If someone suffers with a mental illness or disability, a 36-month benefit is provided.
It Is Tax Free
Anyone who has suffered from an injury or illness will receive 55% tax-free salary based on their gross salary. The maximum this can go up to is $10,000 per month. In addition, it should be noted that people older than 65 years of age are not eligible for this program.
It Offers Return to Work Assistance and Rehabilitation
Patients will be provided with rehabilitation and return-to-work assistance in cases where they might need physiotherapy or counselling.
Long Term Disability in Massachusetts offers a plethora of benefits to the disabled. Keep in mind though that the benefits may vary slightly depending upon the insurer’s policy. This is where hiring a lawyer can help you immensely.