by Lisa on September 28, 2011
The answer is yes.
Once you are approved for Social Security Disability benefits, your long term disability insurance provider will simply pay you the difference between your SSDI payment and your total LTD policy amount. The exact amount they can offset will depend on the language of your particular insurance policy and the amount you receive each month in Social Security Disability benefits.
If you are receiving long term disability insurance and are going to be applying for Social Security Disability benefits, it may be in your best interest to consult with a disability representative. Such an expert can help you understand exactly how your Social Security Disability benefits will affect your long term disability payments and whether or not your long term disability carrier can offset any of the back benefits that you are entitled to by the Social Security Administration.
by Lisa on August 30, 2011
To determine whether or not you are eligible for Title II disability, you will need to review the earnings summary that Social Security sends out to you on a yearly basis. On page two of the earnings summary, it explains whether or not you are entitled to disability benefits and retirement benefits. You should review your earnings record on page three and make sure that there are no earnings missing and that everything is correct. If you find that there are earnings missing from the record, or that the amount of reported earnings are incorrect, you should send a letter into your local Social Security office with proof showing the correct earnings amount. This proof will consist of filed tax returns and proof of the payment of taxes for the subject year. In your letter to Social Security, you will need to request that they correct the earnings record. This is very important because your monthly disability and retirement benefits may very well increase after the correction has been made. For further information, please go to the Social Security website by clicking here.