Health and disability insurance products protect you in case of illness or accident. The purpose of this insurance is to cover loss of income and additional expenses incurred due to a sickness or injury.

What Counts as a “Disability“?

There isn’t one standard definition for a disability that applies across the board. As a general observation, it’s any sort of injury or illness that renders one unable to do their job.

Short-term disability income insurance is intended to cover temporary disabilities, such as recovery from childbirth or the healing of a broken bone. By definition, it’s short-term, but it can range in duration from as short as 30 days to as long as one year.

Long-term disability insurance replaces part of your income each month if a serious injury or illness prevents you from working. It’s the best way to stay on track with your finances while you focus on your recovery.

To qualify for long-term disability insurance you must have a qualifying injury or illness diagnosed by a medical professional to last a year or longer, be under 65 years of age, have a severe and prolonged mental or physical disability, and your disability prevents you from working on a regular basis.