Short-term Disability Insurance provides protection from loss of income due to disability resulting from an accident or illness after a waiting period of 30 consecutive days. Short-term disability pays a monthly payment equal to 66% of your gross monthly salary up to $10,000 of salary or $6,600 in benefits for up to five months.
Long-term Disability (LTD) Insurance provides protection from loss of income during extended absences due to total disability resulting from an accident or illness. A waiting period of 90 consecutive days must be satisfied before disability benefits become payable. Long-term disability payments are equal to 60% of your gross monthly salary up to $10,000 of salary, or $6,000 per month in benefits. LTD benefits for the first 24 months are based on disability from a specific job. After 24 months, it is based on disability from any job and approval by Social Security for disability benefits.