What Are Two Types Of Disability Insurance?
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63333 POINTSview profilePeggy MaceMost of the U.S.The two main types of disability insurance are short term disability, and long term disability insurance. Short term disability insurance pays fairly quickly after a disabling illness or injury occurs, and benefits generally last no longer than two years. Long term disability insurance has a longer waiting period until it pays, usually around 90 days. Then it can last a number of years or all the way to retirement in the event of a disability that continues that long.Answered on September 12, 2013flag this answer
61667 POINTSview profileSteve SavantSyndicated Financial Columnist, Host of the weekly talk show Steve Savant's Money, the Name of the Game, Scottsdale ArizonaDisability insurance is offered as short term disability,generally two years, and long term disability, generally to age 65. The elimination or waiting period needs to be established on the basis of your cash reserves. And keep in mind that many employer sponsored group plans include short term disability coverage. Having short term disability coverage may allow you to purchase long term disability coverage with a longer elimination period.Answered on September 12, 2013flag this answer
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