How Does Long-Term Disability Work With Social Security Disability?
A disability that prevents you from working and earning a living is not something that only happens to other people. About 16 million people receive monthly payments from the Social Security Disability Insurance or Supplemental Security Income programs because of disabling medical conditions. According to the Social Security Administration, one out of four 20-year-olds will be disabled before retirement age.
The sobering statistics about disability may be one of the reasons for the popularity of long-term disability insurance policies that people purchase through an insurance company or receive as part of a benefits package through an employer. If you are disabled and have a long-term disability plan, it is easy to be confused about how it works with Social Security disability benefits....