Long-term disability insurance (LTD) is an insurance policy that protects a person’s income in the event a person is unable to work for long periods of time. Policies can be designed to pay out a monthly benefit anywhere from one year or until retirement age when social security is accepted.
Long term disability insurance is a type of income protection that is designed to cover serious injuries and illnesses that keep you out of work for three months or longer. This includes permanent disabilities that leave you unable to return to work.
Long term disability coverage is a smart investment for healthy, employed individuals who want to secure their financial future. You can get covered by yourself, as a part of a group, or both.
Shopping for long term disability coverage doesn’t have to be a long term process. Long term disability coverage starts after you are approved by the insurance company, you accept the offer for coverage that is made, and you begin paying your premiums.
Long term disability coverage lasts as long as you make your premium payments on-time and in-full. Simple as that.