{"id":10713,"date":"2020-06-03T15:01:19","date_gmt":"2020-06-03T19:01:19","guid":{"rendered":"https:\/\/lifehappens.org\/?page_id=10713"},"modified":"2024-07-24T14:57:23","modified_gmt":"2024-07-24T18:57:23","slug":"what-are-the-types-of-disability-insurance","status":"publish","type":"page","link":"https:\/\/lifehappens.org\/disability-insurance-101\/what-are-the-types-of-disability-insurance\/","title":{"rendered":"What are the types of disability insurance?"},"content":{"rendered":"<p>[et_pb_section fb_built=&#8221;1&#8243; make_equal=&#8221;on&#8221; specialty=&#8221;on&#8221; padding_top_2=&#8221;20px&#8221; padding_right_1=&#8221;50px&#8221; padding_top_bottom_link_1=&#8221;false&#8221; padding_top_bottom_link_2=&#8221;false&#8221; padding_left_right_link_1=&#8221;false&#8221; padding_left_right_link_2=&#8221;false&#8221; custom_css_main_1=&#8221;border-right:1px solid #eeeeee;&#8221; _builder_version=&#8221;4.16&#8243; inner_width=&#8221;90%&#8221; inner_max_width=&#8221;none&#8221; inner_module_alignment=&#8221;right&#8221; custom_padding=&#8221;60px||||false|false&#8221; top_divider_color=&#8221;#3390ff&#8221; top_divider_flip=&#8221;vertical|horizontal&#8221; top_divider_arrangement=&#8221;above_content&#8221; global_colors_info=&#8221;{}&#8221;][et_pb_column type=&#8221;3_4&#8243; specialty_columns=&#8221;3&#8243; _builder_version=&#8221;4.16&#8243; custom_padding=&#8221;|||&#8221; global_colors_info=&#8221;{}&#8221; custom_padding__hover=&#8221;|||&#8221;][et_pb_row_inner _builder_version=&#8221;4.16&#8243; custom_padding=&#8221;20px||||false|false&#8221; global_colors_info=&#8221;{}&#8221;][et_pb_column_inner saved_specialty_column_type=&#8221;3_4&#8243; _builder_version=&#8221;4.16&#8243; global_colors_info=&#8221;{}&#8221;][et_pb_button button_url=&#8221;\/disability-insurance-101&#8243; button_text=&#8221;Disability Insurance 101&#8243; module_class=&#8221;button_icon_right&#8221; _builder_version=&#8221;4.16&#8243; custom_button=&#8221;on&#8221; button_border_width=&#8221;0px&#8221; button_letter_spacing=&#8221;0px&#8221; custom_padding=&#8221;0em|0em|0em|0em|false|false&#8221; global_colors_info=&#8221;{}&#8221;][\/et_pb_button][et_pb_text _builder_version=&#8221;4.16&#8243; _dynamic_attributes=&#8221;content&#8221; header_font_size=&#8221;38px&#8221; custom_margin=&#8221;||||false|false&#8221; custom_padding=&#8221;||||false|false&#8221; locked=&#8221;off&#8221; global_colors_info=&#8221;{}&#8221;]@ET-DC@eyJkeW5hbWljIjp0cnVlLCJjb250ZW50IjoicG9zdF90aXRsZSIsInNldHRpbmdzIjp7ImJlZm9yZSI6IjxoMT4iLCJhZnRlciI6IjwvaDE+In19@[\/et_pb_text][et_pb_text _builder_version=&#8221;4.16&#8243; global_colors_info=&#8221;{}&#8221;]<\/p>\n<p>There are two main types of disability insurance:<\/p>\n<ul>\n<li><strong>Short-term disability insurance<\/strong> replaces a percentage of your lost income for a brief amount of time\u2014typically, between three to six months. Many short-term disability policies are automatically offered by employers as a benefit to their employees.<\/li>\n<li><strong>Long-term disability insurance<\/strong> replaces a percentage of your lost income for an extended period of time. That amount of time, which is known as the benefit period, can last anywhere from about a year to until you reach retirement age. Long-term disability insurance usually replaces between 40% and 65% of your income. Like short-term disability insurance, this coverage may be automatically offered by your employer. You can also buy your own policy if your employer doesn\u2019t offer coverage (or you&#8217;re self employed) or to supplement what your employer offers.<\/li>\n<\/ul>\n<p>Both long-term and short-term disability insurance have a waiting period before you can receive benefits after suffering an injury or illness. It\u2019s known as the \u201celimination period\u201d and you can think of it as a deductible measured in time instead of money. The elimination period can last anywhere from a few days for short-term disability insurance to two years for long-term disability insurance.<\/p>\n<p>In general, the cost of a disability insurance policy becomes less expensive the longer the elimination period is. That\u2019s one reason why many people pair a short-term disability insurance policy with a long-term disability insurance policy. A short-term disability policy lets you increase the elimination period of your long-term disability policy. This can save you money on premium payments and give you needed financial support while you wait for your long-term disability insurance to kick in.<\/p>\n<p>Many people assume government-provided disability benefits will help them weather a tough time, but those benefits are usually not enough to maintain your quality of life. Likewise, employer-sponsored disability insurance is often not enough.<\/p>\n<p>This reality underscores the importance of having your own disability insurance coverage in place. The best way to learn more about disability insurance and to get a disability insurance quote is from a financial professional. Get started with our<a href=\"g\/choosing-an-agent\/#locator\">\u00a0locator<\/a> to find one in your community.<\/p>\n<p>[\/et_pb_text][\/et_pb_column_inner][\/et_pb_row_inner][\/et_pb_column][et_pb_column type=&#8221;1_4&#8243; _builder_version=&#8221;4.16&#8243; custom_padding=&#8221;|||&#8221; global_colors_info=&#8221;{}&#8221; custom_padding__hover=&#8221;|||&#8221;][et_pb_text _builder_version=&#8221;4.14.2&#8243; text_font=&#8221;Montserrat|600||on|||||&#8221; text_font_size=&#8221;15px&#8221; custom_margin=&#8221;0px||0px||false|false&#8221; custom_padding=&#8221;58px|||20px|false|false&#8221; global_module=&#8221;2892&#8243; global_colors_info=&#8221;{}&#8221;]<\/p>\n<p>Learn more<\/p>\n<p>[\/et_pb_text][et_pb_sidebar orientation=&#8221;right&#8221; area=&#8221;et_pb_widget_area_6&#8243; show_border=&#8221;off&#8221; _builder_version=&#8221;4.14.2&#8243; body_text_color=&#8221;#002838&#8243; body_font_size=&#8221;14px&#8221; body_line_height=&#8221;1.3em&#8221; custom_padding=&#8221;20px|80px|||false|false&#8221; global_module=&#8221;10688&#8243; global_colors_info=&#8221;{}&#8221;][\/et_pb_sidebar][\/et_pb_column][\/et_pb_section]<\/p>\n","protected":false},"excerpt":{"rendered":"<p>There are two main types of disability insurance: Short-term disability insurance replaces a percentage of your lost income for a brief amount of time\u2014typically, between three to six months. Many short-term disability policies are automatically offered by employers as a benefit to their employees. Long-term disability insurance replaces a percentage of your lost income for [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"parent":10590,"menu_order":3,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_acf_changed":false,"_et_pb_use_builder":"on","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"class_list":["post-10713","page","type-page","status-publish","hentry"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.8 (Yoast SEO v23.8) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>What are the types of disability insurance? &#8211; Life Happens<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/lifehappens.org\/disability-insurance-101\/what-are-the-types-of-disability-insurance\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"What are the types of disability insurance?\" \/>\n<meta property=\"og:description\" content=\"[et_pb_fullwidth_module_placeholder selected_tabs=&quot;all&quot;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/lifehappens.org\/disability-insurance-101\/what-are-the-types-of-disability-insurance\/\" \/>\n<meta property=\"og:site_name\" content=\"Life Happens\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/lifehappens.org\" \/>\n<meta property=\"article:modified_time\" content=\"2024-07-24T18:57:23+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/lifehappens.org\/wp-content\/uploads\/2021\/06\/og_image_LifeHappens_logo.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"628\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:site\" content=\"@lifehappens\" \/>\n<meta name=\"twitter:label1\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data1\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/lifehappens.org\/disability-insurance-101\/what-are-the-types-of-disability-insurance\/\",\"url\":\"https:\/\/lifehappens.org\/disability-insurance-101\/what-are-the-types-of-disability-insurance\/\",\"name\":\"What are the types of disability insurance? 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