08 May

Long-Term vs. Short-Term Disability: What’s the Difference?

insurance for longterm disability and shortterm disability

Disability insurance can ease the tension of lost wages in times of a crisis. If you’re someone who has been disabled, then receiving the disability insurance benefits you deserve is a must. There are two forms of employer sponsored disability insurance; short-term disability (STD) and long-term (LTD). While both types of this insurance have the same premise, the way they work is different.

Read on to learn about the difference between short-term and long-term disability insurance and how the law offices of George M. Thompson can help.

What is disability insurance?

If you’re unable to perform at your job because of an injury or sickness, disability insurance is a way to protect yourself financially. However, some people may only temporarily need this insurance while others require the coverage for longer periods of time.

Short-term Disability Insurance

Short-term disability insurance will help pay a set amount of your overall income for a limited time. STD policies usually last between three to six months.

Long-term Disability Insurance

Long-term disability insurance can last up to the age of 65 and only pays benefits after a waiting period of short term disability coverage period concludes. Unlike short term disability insurance, long-term disability insurance will also exclude claims for pre-existing conditions and impose monthly benefit limits on most mental health disabilities   

Some examples of health challenges that qualify for long-term disability insurance are:

– Cardiovascular issues

– Fighting off cancer

– Have been diagnosed with a mental disorder. Depression, anxiety and bi- polar disorder are fairly common

– You were injured in an accident

– Chronic back pain and arthritis

– Fibromyalgia

– Multiple Sclerosis

– Drug addictions

Having an STD or LTD disability claim approved is not automatic. You might need to enlist the help of our long term disability claim attorney for more information.

If you’re in need of disability insurance, contact the Law offices of George E. Thompson today and let us help you get the help you need.