Long Term Disability Insurance

Unlike short term disability insurance, long term disability coverage begins after a longer elimination period (typically 90 days) but provides benefits for a much longer duration—from 2 years up to retirement age. These policies usually replace 60-80% of your income and have stricter definitions of disability, especially as the benefit period progresses. Some policies only provide benefits if you cannot work in any occupation, while more comprehensive ones pay if you cannot work in your own occupation. Long term disability insurance is crucial for protecting against severe injuries or illnesses that might prevent you from working for years.