What are the primary differences between short-term disability (STD) and long-term disability (LTD) insurance policies?
These two types of insurance coverage differ most importantly in terms of the length of the elimination (waiting) period, the length of the maximum benefit period, coordination of the benefits payable under the policy with benefits payable under social insurance programs (e.g., Social Security and Workers’ Compensation), and the “definition of disability” incorporated into the contract language.
These two types of insurance coverage differ most importantly in terms of the length of the elimination (waiting) period, the length of the maximum benefit period, coordination of the benefits payable under the policy with benefits payable under social insurance programs (e.g., Social Security and Workers’ Compensation), and the “definition of disability” incorporated into the contract language. Back to Top Authors: Robert Klein and Bruce Palmer Content provided by the Insurance Information Institute (I.I.I.
Related Questions
- What are some of the differences of group long-term disability insurance and an individual disability insurance policy?
- What are the primary differences between short-term disability (STD) and long-term disability (LTD) insurance policies?
- What is the difference between short-term disability (STD) and long-term disability (LTD) insurance?
