Disability insurance is a type of insurance that provides financial protection to individuals who become unable to work due to an injury or illness. Disability insurance service providers offer policies that pay a portion of the individual’s income if they are unable to work due to a disability.
Disability insurance service providers typically offer two types of disability insurance policies: short-term disability (STD) and long-term disability (LTD). Short-term disability policies provide coverage for a limited period, typically up to six months, while long-term disability policies provide coverage for a longer period, usually up to age 65.
The amount of coverage and the cost of disability insurance policies can vary based on factors such as age, occupation, health history, and income. Disability insurance service providers can help individuals choose the right policy for their needs and budget.
In addition to providing financial protection, disability insurance service providers may also offer support and resources to help individuals manage their disability and return to work, such as vocational rehabilitation services, job training, and counseling.