Being adequately prepared for the unexpected will benefit you in the long run, especially when it comes to insurance. You never know if you’ll need it, but you’ll be glad to have it if you do. This can be said about most insurance types, but particularly individual disability insurance. 
What Is Individual Disability Insurance?
Individual disability insurance is financial protection for your ability to work and earn an income. It provides you a monthly income if injury or illness prevents you from working.
What’s the Difference Between Short-term and Long-term Disability?
There are two types of disability insurance, short-term and long-term. Short-term disability is intended to cover you for a short period of time, usually up to 26 weeks, and it can replace anywhere from 40%-70% of your income. There is, however, a short waiting period before receiving benefits that you should be aware of typically 7 to 14 days.
Long-term disability provides benefits for a longer period of time, usually stated in years—five, 10, to Age 65, and to Age 67, depending on your plan. Long-term disability generally covers 40%-70% of your income and most commonly has a waiting period of 90 days.
In summary, the two main differences between short-term and long-term disability policies are the length of the benefit periods and the level of coverage each policy offers.
Should I Get Short-term and Long-term Disability Insurance?
The two types of disability insurance go hand-in-hand to make sure you’re fully covered. Short-term disability covers you within 7 to 14 days following an injury or illness, and long-term will help if your situation extends beyond 90 days. Contact Brokerage Solutions Inc. as we specialize in protecting clients’ incomes through disability income protection, and we can tailor a plan to your specific needs.
Where Do I Get Disability Insurance?
There are two ways to get disability insurance: through your employer or an individual disability insurance policy. Even if you have an employer-sponsored plan, it is a good idea to purchase additional coverage. To make sure you are fully covered, contact Brokerage Solutions Inc. We specialize in protecting clients’ incomes through disability income protection, and we can help you get the coverage you need.