Taking out an insurance policy with short-term disability benefits should provide you with financial help if you suffer an injury or illness that temporarily keeps you from working. Unfortunately, insurance companies are not always willing to approve claims or they take too much time to do so.
Delays and denials are not always preventable, but if you understand the terms of your insurance policy, you might be able to file a claim that stands a better chance of getting approval. Consider examining the following areas of your insurance policy.
The written policy
Your written policy is the formal contract that binds you and your insurer. The policy should explain your disability coverage and the conditions that allow you to receive it. Other explanations should cover the length of time you can receive benefits and any provisions that exclude coverage.
Insurance riders
Be aware of any riders attached to your policy. Sometimes insurance companies include riders which add to the coverage you already receive. In some cases, a person can ask for a rider to boost coverage, though it may add to the premium. It is possible your rider might provide different conditions to qualify for coverage or give you greater compensation.
The definition of disability
Be cautious about how your policy or any riders define disability. You need to be sure your disability qualifies for benefits. Disability insurance policies can have multiple kinds of disability, such as total, partial or catastrophic disability. In some instances, such as with presumptive disability, insurance holders do not have to go through an elimination period to receive benefits.
Researching your insurance policy could help you answer questions you already have, or possibly lead you to seek clarification on certain issues you might not understand.