Short Term Disability Insurance (STD) pays a
percentage of your salary if you become temporarily
disabled and are unable to work (excluding
on-the-job injuries, which are covered by workers
compensation insurance). A typical Short term
disability policy will provide you with a weekly portion
of your salary, usually between 1/2 to 2/3 of your salary
for 3-6 months. and most policies have a "cap," meaning
you receive a maximum benefit amount per month.
The Leading causes of Short term
disability insurance claims are
- Pregnancy: 29 percent
- Injuries (excluding
back): 9 percent
- Back injuries: 8
percent
- Digestive/Intestinal: 8
percent
Long term Disability Insurance
Long Term Disability Insurance picks up
where short term disability policy leaves off. Once your
STD benefits expire (generally after three to six months),
the LTD policy pays you (as with STD policies) a
percentage of your salary, usually 1/2 to 2/3 of your
current salary. You then receive benefits until you
reach age 65.
The Leading causes of Long Term
Disability Insurance claims include
- Cancer: 13 percent
- Pregnancy
complications: 12 percent
- Back injuries: 11
percent
- Cardiovascular
problems: 9 percent
- Depression: 5 percent
