What Does Long Term Disability Income Insurance Mean?

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What does Long Term Disability Income Insurance mean? Read on to discover the definition & meaning of the term Long Term Disability Income Insurance - to help you better understand the language used in insurance policies.

Long Term Disability Income Insurance

Long Term Disability Income Insurance

LTD insurance replaces earnings lost due to illness or disability occurring on or off the job. Coverage may be purchased on an individual or group basis. Individual policies typically do not pay until the period of the disability exceeds a specified elimination period, usually 30 days or longer. Recovery under group disability income policies is often structured to begin after short-term disability income insurance benefits or uninsured salary continuance payments cease. One of the most important provisions in either group or individual policies is the definition of "disability." The broader the definition, the broader the scope of coverage is. Most LTD policies are structured to pay benefits until the insured reaches age 65.

We hope the you have a better understanding of the meaning of Long Term Disability Income Insurance.

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