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Social
Security Disability
The Social Security Disability insurance
and SSI programs are administered by the Social Security
Administration. They are in place to assist any individual who
becomes unable to work because of a physical or a mental
condition. Any person who is found to be disabled is entitled
to monthly cash benefits as well as Medicare or Medicaid.
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Long
Term Disability
Long Term Disability insurance is
typically an employment benefit The policies are sold by
carriers such as Unum, Aetna, Jefferson Pilot and Liberty
Mutual. The policies are governed by the Employee Retirement
Income Security Act (ERISA) passed by Congress in 1974.
Coverage varies from one policy to the other but typically
provides for monthly cash benefits of 60% of salary up to age
65. The benefits are reduced by Social Security Disability
benefits.
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