Personal Injury Care Line

Workers compensation insurance, commonly called workers or workmens comp, is a form of insurance designed to provide compensation to workers who have been injured while on the job.

While the details can vary significantly from one plan to the next, insurance plans in this category typically provide for some form of wage replacement, payment and/or reimbursement of medical costs, compensation for economic losses, possibly damages for pain and suffering, and settlements to the insureds dependents in the case of a fatal work-related accident.

Given this broad range of covered areas essentially combining the key features of disability insurance, health insurance, and life insurance, among others workers comp is certainly one of the more critical forms of insurance an individual can obtain. By knowing all you can about workers comp you can ensure that if an accident happens on the job you are covered. If you are not you could find yourself and your family in trouble down the road. We all need money to pay the rent and buy food and getting compensation for an injury at work can help you to pay for these necessities.

Workers comp insurance is typically associated historically with labor or professional unions, and is often the result of coordinated campaigns to obtain the coverage for the union members. Proponents of workers comp cite improved working conditions, economic support for employees, and the safety net provided by the insurance, as key benefits of workers comp. Critics of this type of insurance cite increased costs to employers and potential infringement on workers rights to seek recompense on their own. Another concern that is frequently raised is the possibility of American companies moving parts of their operations or even their entire companies to areas with looser workers comp law. In the United States, however, workers comp laws are nearly universal, and almost all employers must carry the insurance in some form for their employees.

The body of laws governing workers comp insurance has become extremely complex and varies from state to state. For example, in many states it is illegal to terminate an employee for filing a claim or for reporting an injury incurred at the workplace. This isnt illegal in all states, however. And while most states dont allow employers to deny employment based on previous workers comp claims, employers are able to check a commercially maintained database of claims, a system that could potentially be abused by unethical employers.

Because abuse of the system has occurred on the part of employees as well, stiff fines and other legal penalties are in place for persons who file false claims for workers compensation benefits. While stories of supposedly injured employees engaging in physically demanding activities are commonplace, little hard data exists to indicate what percentage, if any, of the claims filed every year are actually fraudulent.

Vigorous investigation by employers, including tactics such as secretly video taping claimants engaged in physical activity, have also undoubtedly helped reduce the number of false claims. Certainly the vast majority of claims filed are the result of legitimate, unavoidable work-place injuries.

If disability income insurance is the protection you need, shop around and compare policy features before making a purchase. Some professional insurance agents consider the ideal disability policy to be a form called ‘own occupation’ coverage. But the average life of a disability insurance policy is about 5 years. Even if you have long-term disability insurance through your employer, you may want to consider an individual policy as well. That’s why after recently meeting with his financial planner, he decided to supplement his employer’s disability coverage with an additional long-term disability insurance policy.

Sometimes, your employer pays for an individual disability insurance policy on you. You choose the length of your waiting period when you purchase your individual disability income insurance policy. During this process, the insurance company collects information about you and uses it to decide whether to issue you a disability policy. They are not affected by payments from any other individual disability insurance policy you have purchased. Neither long-term care nor long-term disability insurance terminates once it pays a benefit unless the maximum benefits of either policy are exhausted.

Unearned income you may receive includes private disability payments from an insurance policy or short-term and long-term disability coverage from your employer. The maximum normally allowed under a disability policy is 60-66% depending on the insurance carrier. If you’re not sure, an individual disability insurance policy can help. In summary, as the disability insurance market continues to deteriorate, every physician should perform a “policy check-up” to better understand his/her policy. Business Overhead Expense (BOE) insurance is a disability policy that reimburses the practice for specific overhead expenses if a shareholder is disabled.

Variables in coverage Insurance is always complicated and disability is no exception. Benefits are taxed, however, if your employer pays for the disability insurance coverage. Long-term disability insurance usually kicks in after short-term disability coverage ends – typically after six months. Free disability insurance quotes to help consumers find insurance coverage with the lowest rates for disability insurance. As with many other insurance plans, having disability insurance coverage usually makes more financial sense than not having it.

Although it gets less attention than life insurance, experts agree that disability coverage is at least as important. Nationally recognized attorneys representing medical, dental, business and legal professionals in disability insurance coverage disputes with carriers throughout the United States. Lack of coverage could ruin your family’s lifestyle but disability insurance will ensure a continuous income stream. One coverage I don’t have is disability insurance that will cover my loss of income in case of accident or extended illness. Most school districts do not provide disability insurance coverage for their employees. individual coverageDisability insurance may be included in your benefit plan from your employer or union. While on a disability-related leave, you may continue your insurance coverage by paying premiums directly to the Lab’s Payroll Office.

For a longer illness, lasting six months or more, your employer may provide group long-term disability income insurance. Employee Benefits Disability benefits from your employer may include workers’ compensation insurance for work-related injuries. In either case, you should find out as much as you can about the group disability insurance provided by your employer. Group disability insurance can be fully paid by your employer or may require an employee contribution. When you purchase disability insurance through your employer, you may be able to have premiums deducted from your pay on a pretax basis. Plus, one overwhelming advantage of personally owned disability insurance is that it cannot be reduced or terminated if you leave your current employer.

Your employer or association-sponsored group disability insurance plan may not be all you think it is. However, be aware that benefits paid by group disability insurance policies paid for by an employer are usually taxable. If your employer is among those who have overlooked disability insurance, you may want to suggest a reallocation of benefit dollars. You’re actually less likely to get long-term disability insurance from your employer than life insurance.

http://www.insurance-health-quote.com/disability-insurance/

What is Disability Insurance?
The Social Security and Supplemental Security Income disability programs are the largest of several Federal programs that provide assistance to people with disabilities. While these two programs are different in many ways, both are administered by the Social Security Administration and only individuals who have a disability and meet medical criteria may qualify for benefits under either program.
-Social Security web site, June 2006

The Social Security office will want to check your medical history to be sure you qualify for disability benefits. The Social Security office is one way to get disability benefits, but in most cases these benefits will not be substantial enough for families.

Disability insurance can be obtained through any number of insurance companies. In the event that you are disabled, this insurance will serve as financial protection. You will receive a percentage of your gross income from your disability insurance policy, income that will ensure your own financial safety.

You do not have to go through the Social Security Office to take out a disability insurance policy, nor to receive the benefits from that policy. The Social Security disability program is not related to any disability insurance policy that you take out.

Individual disability insurance is truly a basic concept. It is an insurance product designed to replace anywhere from 45-60% of your gross income on a tax-free basis should a sickness or illness prevent you from earning an income in your occupation. Every disability insurance policy from every insurance company is very different, this is not a product to simply shop for the most competitive rate. To buy the cheapest disability insurance policy on the market is to throw money away. The odds of getting paid a monthly benefit under a cheap contract may be significantly lower than receiving benefits from a quality contract.
-About Disability Insurance web site, June 2006

Types of Disability Insurance
Most people are familiar with two types of disability insurance: short-term disability, and long-term disability. Short-term disability insurance is included as part of a benefits package with many different employers, and usually provides an income in the early part of disability. Short-term disability insurance generally provides coverage for a period of several weeks, and does not exceed a two-year term.

Long-term disability, however, can last for a period of several years. These types of policies may be included as a part of employment, in a benefits package, but many purchase these disability insurance policies individually.

As far as disability insurance goes, however, there are still more policies to learn about. One type of disability insurance is the Own-Occupation Disability Insurance. The definition of this policy reads:

The inability to perform the material and substantial duties of your regular occupation, the insurance company will consider your occupation to be the occupation you are engaged in at the time you become disabled, they will pay the claim even if you are working in some other capacity.

Another kind of disability insurance is the Income Replacement Insurance. This is a very popular type of disability insurance, and most insurance agents are familiar with this policy. The language of this type of disability insurance reads:

Because of sickness or injury you are unable to perform the material and substantial duties of your occupation, and are not engaged in any other occupation.

Common in employee benefits packages, Gainful Occupation Coverage is another popular form of disability insurance. The language here is worded very carefully:

Because of sickness or injury you are unable to perform the material and substantial duties or your occupation, or any occupation for which you are deemed reasonably qualified by education, training, or experience.

Disability can occur at any time. While many people take their body and health for granted, serious accident or injury can happen to anyone and if you find yourself disable, for a short period or long term, how will you cope?

Disability insurance is a sub set of health insurance that will provide the holder with income should they become disabled and thus unable to continue earning a living. If this were to happen to you, do you know what you or your family would do for income?

If you are aged 40, there is a higher chance that you will be disabled, and thus unable to work for a period of 90 days or more, than of you dying before the age of 65. There are three common ways of insuring against this risk.

Employers Insurance

The first is to receive insurance from your employer. This is required by law in many states. It comes as a form of short or long term paid sick leave. Larger employers can have even more generous terms. For example, a common policy might offer you 60% of your salary for five years, or maybe even all the way up to retirement. While not everyone is lucky enough to work for such a company, it is worth checking with your employer to find out what your protection is and whether or not its something you wish to provide for yourself.

Long Term Disability

The second common protection against this type of risk is social security and disability benefits. This usually only covers employees whose disability lasts for a period of 12 months or more. It also must be shown to be so severe that you cannot find gainful employment. Therefore there are some gaps here that you may be more comfortable providing for with private insurance.

Individual Policies

The third method of dealing with this risk is with an individual disability insurance policy. This means taking out a private insurance policy yourself. You should shop around to make sure you get the best deal available, but at least you will have the peace of mind of knowing in what circumstances you are covered and what the terms of the policy cover.

There are some other sources of protection. Workmans compensation policies will sometimes step in to cover you if the injury occurred at work. Auto insurance may provide coverage if the injury occurred in a car accident and the Department of Veterans affairs can advise you if you think the disability is related to service in the armed forces.

Diminished Value – Get the Compensation You Deserve After an Auto Accident

The squeal of tires. The sickening sound of metal grinding against metal as you lurch forward in the driver’s seat. As you climb out of the car, you’re shaken – but thankfully you and the driver who hit you are not injured. Unfortunately, the same isn’t true for your car. Even after you endure the hassle of dealing with insurance companies and the inconvenience of taking your car in for repair, the bottom line is that your car simply isn’t worth as much. “The resale value of a vehicle with an accident history is considerably less than a comparable vehicle that’s never been in an accident,” says Omar Quddus, President and Co-Founder of Advocate Auto Claims LLC (www.advocateautoclaims.com).

This phenomenon is called “diminished value,” and the at-fault or third party’s insurance company has an obligation to compensate the driver who was not at fault for this difference in market price. “Insurance companies are required to restore a vehicle to its pre-loss condition and value,” says Quddus. “Unfortunately, most consumers aren’t aware that they are entitled to diminished value compensation – and insurance companies don’t volunteer that information.”

That’s the reason Quddus is on a mission to educate consumers about their rights, and why Advocate Auto Claims pursues diminished value claims on behalf of drivers who weren’t at fault in accidents. “Even when consumers are aware of the diminished value issue, they’re often ill-equipped to handle the roadblocks that an insurance company will throw at them,” he says. “Each insurance company has its own internal procedures, but those procedures can vary from region to region.” Similarly, the laws and regulations governing diminished value differ greatly from state to state.

The maze of regulations and loopholes, as well as the harsh stance taken by auto insurance companies against diminished value claims leaves consumers with few options. “Consumers may be involved in an accident once or twice in a lifetime; they simply don’t have the resources and knowledge to get the compensation they deserve,” says Quddus.

This is precisely why the owners of Advocate Auto Claims, who have more than 10 years of experience working with diminished value claims on behalf of fleet owners and rental car agencies, have opened their doors to consumers. While drivers can pay out of pocket for a vehicle inspection or a report to substantiate their claim, and an attorney may pursue such a claim in conjunction with a personal injury case, Quddus’ company handles every aspect of diminished value claims – and does so on a contingency basis. “The process of establishing diminished value and then negotiating the proper compensation is both an art and a science,” Quddus says. “We pride ourselves on our ability to get results, and don’t expect to be paid until you do.”