Kotak: LTD and the CPP disability benefit delivers a one-two punch to the financial strain of being off of work

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Kotak: LTD and the CPP disability benefit delivers a one-two punch to the financial strain of being off of work
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.KotakLaw: LTD and the CPP disability benefit delivers a one-two punch to the financial strain of being off of work - via healthing_ca healthing health canada CPP disability insurance healthnews

Worrying about money is not where you should be focusing your energy when you have a life-threatening disease.

To be eligible for CPP disability benefits, your disability must be both “severe” and “prolonged,” as defined by the CPP legislation, and you must have contributed to CPP in four of the last six years, or three of the last six years if you have contributed for at least 25 years. Even if you are receiving private disability benefits , you still may be eligible for CPP Disability Benefits.

If you are approved for both LTD and CPP disability payments, insurance companies typically deduct CPP disability payments from the total they pay out. It’s also important to know that taking CPP disability fundsTo apply for both LTD and CPP, you need proof To apply for LTD and CPP for disability benefits, you must provide medical evidence from your doctor proving your disability. And while the CPP disability program has stricter eligibility requirements than most LTD insurance plans, once approved, CPP is less likely to terminate your benefits than your LTD insurance provider.

At the same time, a LTD provider is less likely to terminate LTD benefits based on a claim that you are able to work if you have already met CPP requirements and CPP has ruled that your disability qualifies you for CPP payments. And if your LTD payments are terminated before you are fully able to work, you can at least continue to receive CPP while possibly filing a lawsuit or appeal against your insurance company.

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