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Victor Peña Law PLLC

Long-Term Disability in Virginia

Many of the most prominent disability insurers who provide both types of policies include Hartford, Unum, MetLife, Cigna, and Lincoln National. There are differences, however, between employer-sponsored and private policies when it comes to the claims and appeals process, as well as tax implications.
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Victor Peña Law PLLC

Is My Disability Buyout or Settlement Taxable?

According to the Council for Disability Awareness, a young 20-something just entering the workforce after high school, college, military service, or vocational training stands a one-in-four chance of facing a disability that will prevent them from working for more than a year.
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Victor Peña Law PLLC

Can You Cash Out <br>Disability Insurance?

According to the Council for Disability Awareness, one in four of today’s 20-year-olds will become disabled before they retire. More than 37 million Americans, or about 12 percent, are classified as disabled, with more than half of them still in their working years, 18-64.
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Victor Peña Law PLLC

Can You Cancel Long-Term Disability?

Statistics show that 25% of today’s 20-year-olds will be out of work for an entire year at some point in life. Even with these odds, some 51 million working adults in the U.S. are without disability insurance.
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Victor Peña

How Long Does Long-Term Disability Last?

One in every four 20-year-olds today can expect to be out of work for at least a year due to a disabling condition before they reach retirement age. Even worse, consumer bankruptcy studies have shown that 77.8% of all filings are because of medical bills that got out of hand.
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Victor Peña

Disability Denial from UNUM

Being forced out of work long term because of a disability can cause huge disruptions and challenges. A 2019 bankruptcy study found that 44.3 percent of filers cited loss of income due to medical issues as the reason for their filing.
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Victor Peña

What You Should Consider Before Taking a Buyout

According to tabulations made by the Social Security Administration (SSA), about one in four of today’s 20-year-olds will miss at least one year of work before reaching the normal retirement age (67) due to a disabling condition.
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