Both short and long term policies come in many different types. A short and long term disability insurance policy comes with a no-fault provision.
About short and long term disability insurance:
The main difference between a short and long term disability policy is the amount of time covered. Short term usually covers you for a few weeks or less while long term covers you for up to a year.
-Loss of income, which is crucial during initial years after a layoff
-Low-cost benefits
-Eliminates need to figure out other forms of compensation
Pros of short and long term disability insurance:
Short and long term disability insurance is most likely most difficult to find in your life. It is estimated that a majority of individuals need to obtain or renew their short & long term insurance.
-You can choose from wide selection of short and long term disability insurance plans that help you protect your income while taking care of business.
Pros of short and long term disability insurance:
In short and long term disability insurance your employer will be covered by short & long term disability insurance if you leave your job, or if you become disabled before the end of coverage period.
-It's one of the cheapest ways to acquire disability coverage policy.-Some plans pay 70-80% of your wage at your last day of work, some pay 100%.
Pros of short and long term disability insurance:
Obtaining short and long term disability insurance is a big financial decision & something that should not be taken lightly. Consider your existing health and financial situation and potential risks.