Short-Term Disability vs. Long-Term Disability
There are essentially two types of disability insurance: Short-Term Disability and Long-Term Disability. Short-Term Disability insurance typically has shorter elimination periods, covers your disability for a shorter amount of time and is less expensive than Long-Term Disability insurance. While Long-Term disability has a longer elimination period and is typically more expensive than Short-Term Disability, your disability will be covered for a longer period of time.
Individual vs. Group Disability Income Insurance
Individual Disability Income Insurance can be customized to fit your financial needs. You can choose from multiple plans, optional features and riders that are available at an additional cost, higher benefit amounts and a longer benefit duration. You will have to go through an underwriting process.
Our Group Disability Income Insurance plans are not customizable, but the rates tend to be less expensive than an individual policy. As a new associate, our Group Disability Income Insurance plans are available Guaranteed-Issue, which means there is no underwriting process. After your New Associate Election Period has ended, you can still participate in the plans, but you will be required to submit evidence of insurability. Click here for our Group Disability Income Insurance plans.
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