Long Term Disability Insurance

Disability insurance is coverage that provides you with income protection, should you lose time on the job due to an injury or illness. With disability coverage, partial replacement of lost income is paid to you.

For working-age individuals, disability refers to a medical condition that reduces your ability to perform your job duties.

Disability Statistics

  • Disabilities affect 15% of all Americans (over 41 million people).
  • A 30-year-old male is four times more likely to be disabled and need disability insurance than to die and need life insurance.
  • Over two-thirds of disabling injuries to workers occur off the job.
  • Nearly one-third of employees ages 35 to 65 will miss at least three months of pay due to injury or illness, and once disabled for 90 days, will have an average length of disability of two years.

What is long term disability insurance (LTD)?

LTD is a type of disability insurance coverage that pays employees a set percentage of their regular income after a specified waiting period. LTD insurance protects workers in the event they become disabled prior to retirement. LTD policies are typically offered through employers as part of a standard benefits package. Typically, long-term disability lasts for about a year.

Why is disability insurance so important?

The risk of disability is greater than most employees realize. When you become disabled and lose time at work, your source of income is eliminated. In addition to lost income, you are most likely experiencing an increase in medical expenses to deal with your disabling injury or illness.

What is supplemental disability insurance?

Traditional medical insurance doesn’t cover every expense related to an injury or illness. Bills and expenses can continue to add up, especially if you have to stop working and lose your income.

Supplemental insurance is additional coverage that can help you pay deductibles or co-payments, and other increasing medical costs not covered by your employer-sponsored insurance plan.

If you decide that the coverage offered through your employer-sponsored group plan does not adequately fill your personal needs, you should contact an independent agent or carrier.