| It is not surprising that many consumers believe | | | | leave from work can be considered short term in |
| that long term disability insurance is the only type | | | | nature. Worker's compensation is also another |
| of insurance available. Long term is by far the | | | | form of short term insurance. In fact, worker's |
| most common type purchased by consumers as | | | | compensation may be the most well-known type |
| well as the most common type offered by | | | | of this type of insurance. Most employers are |
| employers and membership organizations. | | | | required to provide worker's compensation |
| However, there are short term disability insurance | | | | benefits that replace a portion of your income if |
| polices on the market and they can be useful | | | | you are unable to work, due to an accident that |
| when needed. This article examines some of the | | | | occurs in the workplace or while on company |
| more common aspects between the two types | | | | time doing company work. |
| of disability insurance. | | | | Your automobile insurance may also be a type of |
| As mentioned above, this type of insurance is the | | | | short term insurance if they pay you for injuries |
| more commonly used type and it protects you | | | | sustained in an accident. Of course, if the other |
| should you become disabled through illness or | | | | driver is at fault, you may be able to recover |
| injury. These policies usually begin to take effect | | | | damages from them or their insurance company. |
| once any short term disability policies end. The | | | | Long term insurance is quite another type of |
| phrase "long term" can be misleading as some of | | | | insurance altogether. Long term policies may not |
| these policies may only last 5 or 10 years. If you | | | | begin until you have exhausted all other shorter |
| have the option, you want one that covers you | | | | term services, but once it does begin it is truly |
| until age 65. | | | | for the long haul, meaning years. While short term |
| Short term disability insurance, on the other hand, | | | | policies are used to help you get through a rough |
| will cover a certain percentage of your lost salary | | | | patch, long term is used to help you keep your |
| if you are injured or become too ill to work. | | | | home, your automobile, and your lifestyle. |
| These benefit payments usually begin once your | | | | Short term insurance is usually provided to you |
| sick leave pay runs out. | | | | through secondary means, such as through your |
| Short term benefits often vary as time passes. | | | | employer's participation with worker's |
| Early on you will probably receive a large | | | | compensation or through your automobile |
| percentage of your usual pay, but as time goes | | | | insurance. Long term insurance, on the other hand, |
| on this amount may decrease. In many cases, | | | | is bought as its own entity. This purchase can be |
| short term policies last for six months or so | | | | through your employer or it can be purchased by |
| before they are terminated. | | | | an individual in which case it is known as private |
| It should be noted that short term insurance can | | | | long term insurance. |
| come to you in many ways. For example, sick | | | | |