Max number of years of cover for such policies can be between 40 to 60 years. You can make claims for temporary disability if your income is restricted and get a lump sum.

About long term disability:

Long term disability can be an expensive choice, especially if you’re unable to get the care that you need. No matter how badly you need coverage, it’s always a good idea to have a strategy in place.

This usually does not have a severance pay package. However, there are many variables in the calculation of benefits that can increase the severity of the compensation.

Pros of long term disability:

If you work for a company that offers long term disability you can probably get some job security. It is also a way for you to receive a chunk of pay if you or your spouse has a long term illness.

There is a cap on benefits you can claim. For example, it might be 10% of your pay for a workman's compensation claim & 20% for an Occupational Health and Safety claim.

Pros of long term disability:

Long term disability insurance policy coverage offers a pay check at the end of each month. Should you be unable to work due to injury or sickness, you are entitled to pay a salary until retirement.

-Not a full-time job -May not cover essentials -Doesn't offer benefits such as dental & vision coverage -Doesn't cover business expenses -Complex disability claim form

Cons of long term disability:

Additionally, some companies change their accrual periods when they change premiums for benefits, based on fluctuations in how they project long term disability claims. Companies also denies claim.