Listen as John Tucker explains how the long term disability insurance company may offset other sources of income to determine your monthly disability check.
The insurance company is allowed to do this. They may subtract other sources of income, such as social security disability, a 401K withdrawal, VA disability benefits or workers’ compensation from the amount they would have to pay you each month. This is done to limit the portion of previous income for which they will be responsible. You will still receive your designated amount of previous income. For most plans, this is sixty percent. The difference is that less would be coming from the insurance company. Additionally, there may be a situation in which the policy language doesn’t allow them to offset other income, so it is important to carefully read your plan’s documents. Watch the video to learn more. If you have additional questions regarding offsets your disability insurance company is taking, I want you to call me at (855) 757-0707. I welcome your call. Visit our educational website at TuckerDisability.com, where you can view more videos and media content from our law firm.