The Types of Disability Insurance & Additional Options


Discover the types of Disability Insurance so that you can stay informed and safeguard your financial future.

By comprehending their choices, individuals can select a plan that best aligns with their specific needs and budget. Being well-informed about disability insurance ensures that people can face life’s uncertainties with greater peace of mind, knowing they have taken proactive steps to protect themselves and their loved ones from potential financial hardship. With the help of Insurance Information Institute, here are some policy types and additional options to consider.

Long-Term & Short Term Policies

Learn about the short-term disability (STD) and long-term disability (LTD) insurance policies, the two main types of disability insurance. The maximum benefit period for STD is two years, with a waiting period of 0 to 14 days. Contrarily, LTD has a waiting period of several weeks to months and offers benefits for a number of years or even for the rest of one’s life.

It’s also crucial to understand the fundamental elements of disability policies through two essential safety measures.


Except in cases of nonpayment of premiums, the insurance company cannot revoke the policy because it is noncancelable. This gives you the option to renew the policy each year without paying more money or receiving fewer benefits.

Guaranteed Renewable

This measure gives you the freedom to renew the policy with the same benefits without fear of the company canceling it. However, as long as it does so for all other policyholders in the same rating class as you, your insurer is permitted to raise your premiums.

In addition, it may also be beneficial to take these vital additional to take into account when obtaining coverage in addition to conventional disability policies:

Additional Purchase Options

Keep the ability to purchase more insurance down the line if your insurance provider makes it available to you.

Coordination of Benefits

The benefits you receive are dependent upon other disability-related benefits. Your policy would step in where other policies may fall short.

Cost of Living Adjustment

Select COLA to gradually increase your disability benefits, which are adjusted in accordance with the Consumer Price Index (CPI). You should be aware, however,  that choosing COLA will result in higher premiums.

Partial or Persistent Disability Rider

In the event of a partial disability, this rider enables you to return to work part-time while receiving partial disability benefits.

Return of Premium

This clause requires the insurance company to reimburse you for a portion of your premium if you don’t file any claims within a certain time frame.

Waiver of Premium Provision

After 90 days of disability, you are exempt from paying premiums throughout your period of incapacity.

Stay informed and make the best choices to safeguard your financial well-being with comprehensive disability insurance. Consider reaching out to The Feltner Group to set up a disability insurance policy today!