Episode 006: Long Term Disability Insurance with David Lackman

Description

Jordan Assaraf, your host, welcomes David Lackman to today’s episode. David is a senior counsel and lawyer at Gluckstein Lawyers, his litigation practice now extends over 35 years encompassing serious and complex personal injury, disability claims, and wrongful death claims. David has achieved outstanding results in personal injury claims against some of Canada’s largest corporations. He has been acknowledged by the publication Best Lawyers in Canada, he also chairs the editorial board of the Journal of The Ontario Trial Lawyers Association.

David Lackman talks about the Long Term Disability (LTD) Insurance, its meaning, who pays for it and how long it takes for the payment to be effective in cases of short and long term disability. David also explains the requirements to be qualified for LTD, as well as much more valuable information about this topic.

Key Takeaways:

[2:12] What is Long Term Disability (LTD) insurance?

[3:15] Who pays for the coverage?

[5:37] How long someone has to wait for the benefits to be paid?

[7:56] How disabled you must be to qualify for LTD?

[12:20] Do LTD benefits get adjusted for cost of living increase?

[15:23] What percentage of your salary can you expect to receive from an LTD?

[17:28] David shares an example of how LTD benefits can be calculated.

[20:06] How long can someone be on LTD?

[21:15] What happens if the employer terminates someone who is on LTD?

[23:48] When someone can consider suing for LTD benefits?

[27:15] What happens if the person who wants to apply to LTD benefits can’t hire a lawyer because he was terminated and has no income?