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  1. #1
    Join Date
    Dec 2008
    Posts
    38

    Default Workers Compensation and Ltd Insurance

    I need info. I am receiving w/c and LTD Insurance. If I settle with WC do anyone know what happens with my LTD Insurance. Can I settle with them too? or will I receive LTD for awhile. LTD makes partial pymnts monthly right now.

  2. #2
    Join Date
    Jul 2008
    Location
    California
    Posts
    1,900

    Default Re: Workers Compensation and Ltd Insurance

    Hi downlow,

    You need to get a copy of your entire LTD policy to know what will happen to your LTD policy once you settle with work comp. Many LTD policies count any income against you and may deduct the work comp settlement. It depends on how your LTD policy reads, and how your attorney structures your settlement. I recommend consulting with your work comp attorney, and consulting with a LTD attorney about this. You will of course be asked to produce your LTD policy, so I would request it now if you have not already.

    LTD policies are for if you cannot return to your job, and some are if you cannot return to any job. This is important to know what policy you have.

    There are LTD attorneys that may take your case and attempt to negotiate a lump sum settlement of your LTD policy. It is up to your LTD carrier if they want to do this. If you may never work again due to your injury, I would not recommend this.

  3. #3
    Join Date
    Jul 2008
    Location
    California
    Posts
    1,900

    Default Re: Workers Compensation and Ltd Insurance

    Quote Quoting downlow View Post
    I need info. I am receiving w/c and LTD Insurance. If I settle with WC do anyone know what happens with my LTD Insurance. Can I settle with them too? or will I receive LTD for awhile

    LTD makes partial pymnts monthly right now.
    I am sorry I did not answer your question about will you receive LTD for a while, and after you settle your work comp claim. LTD and work comp is two entirely different things. LTD is a disability insurance policy. Again there are a few different types of LTD policies. Some will pay if you cannot return to your job because of injury and illness, and some policies will only pay if you cannot return to any type of job due to injury or illness.

    You can request a copy of your entire LTD policy from your LTD carrier, or sometimes your employer. Again, I recommend paying for a consultation with an attorney who deals with LTD claims. This is very important, especially if your injury prevents you from returning to work at any job. A LTD attorney can recommend what options you have, and how your work comp settlement may or may not affect your LTD payments.

    My LTD policy counts any income I receive for work comp disability payments. They deduct the work comp payments or offset them.

    I hope I was able to help you, but you should consult with an attorney about this important matter. Different states also have different laws regarding this.

    I wish you the best.

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