Short Term vs. Long Term Disability

Short Term Disability (STD)

STD policies usually pay between 40% and 70% of your salary.
The benefits are paid on a weekly basis, and the duration of coverage can range from a few weeks to a full year in certain circumstances.
To receive coverage, you must prove you cannot perform your job duties due to a qualifying medical condition, often with evidence from a medical provider.
A waiting period (also known as an elimination period) before benefits begin, can range between 1 day up to about a month.

Unlike workers' compensation, the injury or illness does not have to occur on the job.

LTD policies typically cover a percentage of your pre-disability income, often between 50% and 66.67%, and can extend for several years or even until retirement. Benefits are paid on a monthly basis.
Most LTD plans have a waiting period (also known as an elimination period) before benefits begin, which can range from a few weeks to several months.
To qualify for LTD benefits, you must be unable to work due to a covered disability, and the disability must be expected to last for a certain period (often six months or more).
It's important to note that Social Security Disability Insurance (SSDI) is a separate program that provides benefits to individuals with disabilities who meet specific criteria, including having a qualifying work history.
A wide range of medical conditions can qualify for LTD benefits, including chronic illnesses, neurological disorders, and physical disabilities.
The length of time you can receive LTD benefits varies depending on your policy and the terms of your plan.