Question on LTD

[Leah27]

Thanks Penstater! Yeah, it's not urgent right now, but I did go to 4 days a week instead of 5 due to my health in 4/2016. Seeing the policy now, it does allow for partial disability- I'm wondering if I should have applied to that then!

If this last exacerbation doesn't go away, I may need to reduce more, at which time I have to look into all this stuff and have it squared away correctly ahead of time

[MSW1963]

There are several key dates typically involved in LTD Group Coverage:

Employee's date of employment which may determine employee's date of eligibility to participate in LTD. For example, eligibility for LTD is one year from date of employment. In this scenario, if date of employment is 1.1.2017, eligibility date is 1.1.2018. Typically premium payments begin when eligibility has been met, on 1.1.2018.

Once eligibility to participate has been met, there may be a 'waiting period'. During the waiting period premiums for LTD commence, but claims for LTD coverage are not honored until the waiting period has been met, usually 12 months from the eligibility date , 01.01.2019.

There may be pre-existing condition clauses and look back periods of up to 2yrs from the date of
?employment? ?date of eligibility? or ?date after meeting the waiting period? or 01.01.2021, four years from date of employment.

Also worth considering is the consequences of any prior Short Term Disability claims and the impact on pre-existing exclusions that may have on LTD claims.

A tactic that's recently come to light is when an employer changes LTD carriers but without a grandfather clause that would cover long term employees who have paid premiums under a prior carrier's policy and met all exclusion and pre-existing conditions, but have not met those terms under the new carrier's LTD policy.

Hope I haven't misstated anything. Also good to hear that you are in the LTD planning stages and not currently in urgent need.