Question

What are the main characteristics of long-term disability insurance? DO NOT PLAGIARIZE, ORIGINAL ANSWER ONLY

Answer 1

Long term disability insurance

It refers to the insurance which provides cover to not only the employees engaged in dangerous tasks, but also to those who do normal work. Basically it is all related to providing insurance coverage to the employees so that they can deal with their disabilities in the longer period of time. A long term disability is something which lasts for more than 12 months and might result into death in future. This insurance helps to deal with such disabilities.

Following are the main characteristics of long term disability insurance:

• The employees covered under this insurance, gets around 50% of their salary during this disabled period, from their employers.
• The coverage of the policy is not cancellable and the policy cannot be stopped on its own, unless the policy holder stops paying the premium.
• In some cases, the employers pays half of the salary only up to the age of 65 years. Once the age exceeds, the benefits stops.
• Cases like cancer, mental illness, injuries, pregnancy & childbirth complications etc are all covered under this insurance.
• However, normal childbirth without any complications are not covered under this insurance policy.

With long term disability in hand, the policy holder gets many advantages and the hardships of facing the disability can be reduced by offering financial help to the policy holder.