The Difference Between Short-Term and Long-Term Disability Policies

Don't make the mistake of thinking that your employer automatically covers you if you are injured and unable to work. You should check to see if your employer offers some form of coverage. There are two types of coverage:

• Short-term Disability: This is usually used for the birth of a child or a health problem like an injury or illness. This is not the same as worker's compensation. Typically there is a waiting period of 0 to 14 days before you receive disability benefits. Short-term disability can last up to two years. Currently only 5 states require employers to offer short-term disability.
• Long-term Disability: Long-term disability benefits have a much longer waiting period, ranging from weeks to months. If you have long-term disability coverage, it can be used when your short-term benefits are exhausted but you are still disabled Long-term disability benefits can last from several years to a lifetime.

To obtain quotes for disability insurance fill out the form on InsuranceBureau.com and receive quotes from competing disability insurance representatives.

Sources

1. Do You Need Disability Insurance?, Stacey L. Bradford. (2005). Retrieved April 24, 2008, from http://www.smartmoney.com/insurance/disability/index.cfm?story=disability2005