What are the main types of disability insurance and how do they work?
There are two types of disability insurance policies, short-term and long-term. Short-term disability (STD) is usually provided by your employer and is designed to replace a portion of your income for a short period of time, like several months.
Long-term disability (LTD), which we offer, gives you coverage if you're out of work for a longer period of time because of a more severe or permanent disability. LTD is sometimes offered as a workplace benefit, but it's typically purchased as an individual policy. Coverage is designed to last for many years—even through retirement if needed.
LTD and STD policies work best in tandem because LTD doesn't kick in right away and there's an elimination period, while an STD policy kicks in more immediately.
Ask one of our advisors if a long-term disability policy is right for you. Get matched today.