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What are the types of disability insurance?


There are two types of disability policies: Short-Term Disability (STD) and Long-Term Disability (LTD):


Short-Term Disability policies (STD) have a waiting period of 0 to 14 days with a maximum benefit period of no longer than two years.


Long-Term Disability policies (LTD) have a waiting period of several weeks to several months with a maximum benefit period ranging from a few years to the rest of your life.


Disability policies have two different protection features that are important to understand.



  1. Noncancelable means the policy cannot be canceled by the insurance company, except for nonpayment of premiums. This gives you the right to renew the policy every year without an increase in the premium or a reduction in benefits.


  1. Guaranteed renewable gives you the right to renew the policy with the same benefits and not have the policy canceled by the company. However, your insurer has the right to increase your premiums as long as it does so for all other policyholders in the same rating class as you.



In addition to the traditional disability policies, there are several options you should consider when purchasing a policy:










Source:  The Insurance Information Institute  www.iii.org

Types of of Disability Policies

Disability Insurance

Man in RehabMan on Cruches



Disability income insurance can replace the loss of income due to a temporary or permanent disability for a fixed period or for life.   The disability can be either total or partial.