It offers much more coverage than short-term disability insurance, but important difference is that if you became disabled & unable to work, it will cover you.

About permanent disability insurance:

Much of permanent disability insurance consists of premiums paid to insurance companies to protect policyholders from loss of income, in case they are unable to work This protects the policyholder.

-Cash back (qualified life insurance) -Hardship coverage (medical, home) -Grace period in case of a sudden loss of job by the policyholder(qualified annuity)

Pros of permanent disability insurance:

Permanent disability insurance typically provides an income replacement rate of 70 percent or higher, similar to Social Security, for up to 20 years, and continues to pay 100 percent of benefits.

Employer-sponsored insurance is less expensive, especially in the case of accident-induced long-term disability, than any other form of insurance policy cover.

Pros of permanent disability insurance:

Permanent disability insurance can provide much needed financial stability for caregivers of a loss and can make it possible to have a home-based business or to devote time to have meaning to them.

-Having a traditional insurance plan may prove challenging during your financial crisis or evean ongoing crisis; it may be hard to maintain a monthly premium.

Cons of permanent disability insurance:

With permanent disability insurance you won't have to worry about paying for medical expenses or transportation if you become unable to work & won't have to come up with big sum upfront for treatment.