Long-term Disability

Published: | Updated: June 18, 2017

Definition - What does Long-term Disability mean?

A long-term disability is an injury or an illness that causes a person to be unable to work for an extended period of time. This period of time can be a few years or even longer. Long-term disability insurance, which pays the policyholder a portion of their original income, protects policyholders from having to go without income for the length of the long-term disability.

Insuranceopedia explains Long-term Disability

Long-term disability usually does not cover injuries that occur on a job site or that occur as a result of an activity carried out at work. Workers' compensation would typically cover such cases. Similarly, employers often offer long-term disability insurance, which starts to pay once short-term disability benefits stop. As the likelihood of a working professional becoming disabled at least once before retiring is relatively high, long-term disability insurance may be a worthwhile consideration, especially because these disabilities average around three years in length. This is a very long time to go without a steady income.

How Well Do You Know Your Life Insurance?

The more you know about life insurance, the better prepared you are to find the best coverage for you.

Whether you're just starting to look into life insurance coverage or you've carried a policy for years, there's always something to learn.

Share this: