One thing not mentioned here is the waiting period. I.e. after you are injured and stop working, you are typically required to use up all of your sick/vacation time, and/or wait for 180 days until you can receive benefits.
I've worked for companies that offer short-term disability insurance -- which will cover the gap -- but this is less common than LTD.
This is why it's important to have an emergency fund to cover your living expenses for at least the waiting period. Otherwise you could be looking at eviction before the money from your disability insurance comes in.
I've worked for companies that offer short-term disability insurance -- which will cover the gap -- but this is less common than LTD.
This is why it's important to have an emergency fund to cover your living expenses for at least the waiting period. Otherwise you could be looking at eviction before the money from your disability insurance comes in.