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CDA: LTD Benefits Grow 7.5&

By Staff Writer

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The disability insurers that support the Council for Disability Awareness say they paid $7.2 billion in long-term disability claims in 2006, up 7.5% from the total for 2005.

The CDA, Portland, Maine, has reported those figures in an LTD claims review.

Private LTD insurers paid benefits to more than 500,000 individuals in 2006, the CDA says.

The federal government’s Social Security Disability Insurance program paid about $80 billion in benefits to 6.8 million disabled Americans in 2006, up 8.7% from the total for 2005, the CDA says.

Only 39% of the 2.1 million workers who applied for SSDI benefits in 2006 received the benefits, and 33% of the individuals receiving private LTD benefits did not qualify for SSDI assistance, the CDA says.

Only about 5% of the LTD claims were job-related, the CDA says.