Long-term Disability
What Does Long-term Disability Mean?
A long-term disability is an injury or illness that prevents a person from working for an extended period, potentially lasting several years or more. Long-term disability insurance protects policyholders by providing a portion of their original income, ensuring they do not have to go without income throughout the duration of the disability.
Insuranceopedia Explains Long-term Disability
Long-term disability insurance usually does not cover injuries sustained on the job or those resulting from work-related activities, as these are typically covered by workers’ compensation. Many employers offer long-term disability insurance, which begins once short-term disability benefits end. Given the relatively high likelihood that a working professional may experience a disability before retirement—and with the average duration of such disabilities being around three years—long-term disability insurance can be a valuable safeguard, as this is a substantial period to go without a steady income.
