Plan that helps replace income lost through inability to work because of disability caused by an accident or illness
An insurance plan or policy that helps replace lost income when the insured is unable to work because of a covered disability
Disability income insurance which typically provides disability income benefits that begin at the end of a specified waiting period and that continue until the earlier of the date when the insured person returns to work, dies, or becomes eligible for pension benefits. See also disability income insurance and short-term disability income insurance.
Long-term Disability Income Insurance is designed to provide benefits for a long duration such as 2 years, 5 years, or in some cases up to 65. The elimination period for this policy is usually 90 or more days. J K M N O X Y Z
Insurance issued to an employer (group) or individual to provide a reasonable replacement of a portion of an employee's earned income lost through serious and prolonged illness or injury during the normal work career. (See also Integration.)
A type of disability income insurance that provides disability income benefits after short-term disability income benefits terminate and continues until the earlier of the date when the insured person returns to work, dies, or becomes eligible for pension benefits. Contrast with short-term disability income insurance.
In group insurance, disability income insurance whose maximum benefit period is greater than one year. The maximum benefit period commonly extends to retirement or age 70. In individual insurance, disability income insurance where maximum benefit period is greater than five years, commonly extending to age 65 or for the insured's lifetime. See also disability income insurance and short-term disability income insurance.
