Whats the difference between short and long term disability?
Disability Insurance provides funds when you are unable to work due to disabling injury or illness. The primary difference between short and long term policies is a) the period of time before payments are made following a disabling incident (qualifying period) and b) the length of time payments are made. As the name implies, Short Term Disability Insurance will cover the early stages of a disability. The benefits can begin as early as the first day of an injury and are payable for a limited period of time, typically three or six months. Long Term Disability usually has a three or six month qualifying period before benefits begin. Benefit payments can continue all the way up to retirement age as long as the individual continues to qualify as disabled.
