Yes, you can collect both types of insurance at the same time. Social Security Disability Insurance (SSDI) is provided through the Social Security Administration (SSA), which is a federal agency. Long term disability insurance (LTD) is a policy purchased through private insurance and completely unrelated to SSA.
How Do Social Security Disability and LTD Work Together?
Many LTD policies actually require you to apply for SSDI to ensure ongoing protection in the event of permanent disability. Situations for both types of support may come about from sudden serious health issues preventing you from working full-time. Having both SSDI and long term disability benefits, however, may affect the way in which you receive benefits. Additionally, both forms of support may be subject to tax.
Understanding how SSDI and LTD work together and affect each other can be complicated. It is highly recommended you consult with a disability lawyer to parse the legal aspects of the insurance, and to fully understand how this affects you in real terms.
For example, your LTD policy may be offset by your SSDI benefits. Because SSDI takes longer to be approved and become active, the private policy may continue to pay in full but require reimbursement once SSDI kicks in.
To learn more about collecting SSDI and LTD, or for other information on disability benefits, call to schedule your free consultation with a disability attorney at the Antonowicz Group.