Long-Term Disability Settlement

Long-term disability benefits ensure you a monthly income on a long-term basis until you are eligible to work or turn 65 years of age to get the SSI benefits from both the ERISA and private insurance policies. Under any long-term disability policy, the person is assured a reasonable income per month from the company for sustenance and to look after his family. The benefits from the employer's scheme as well as the private insurance schemes are sometimes dangerous and face extermination after a certain period of time.

This means, that you can be denied the payments as disability benefits from the insurance company or from your employer. This has happened many a times and people have faced a lot of problems after sudden removal of benefits. In that case, if you sue the company or the association, they may come up with the idea of long-term disability settlement.

Under this plan, the two parties come to a mutual settlement of re-settling financial accounts. The company or the employer is ready to pay a lump sum amount instead of the benefits per month. The long-term disability settlement amount depends on your age and the time left for your recovery as per medical certification or the time left to attain 65 years of age. Once you receive the amount, the company or the source of your monthly income is free from all liabilities and is not affected under any law of disability benefits. The settlement is done with the intention of gaining a good amount to start an alternative source of income.