Short-term vs Long-Term Disability Insurance for dentists
There are two types of disability insurance coverage, short-term and long-term. Both types of coverage are designed to provide you with income in the event you can practice due to injury or illness.
The core policy differences between short-term and long-term disability are:
- Injuries and illness they cover.
- How long you can receive benefits and payments.
- How long you have to wait until payments are received by you.
Below are some key differences between the coverage types:
Short-term disability coverage is designed for temporary, less serious injuries. These conditions may prevent you from working for a few weeks or months. Typically, most people recover from short-term disabilities.
Short-term Disability Coverage Examples
- Breaking an arm or leg
- Tearing ACL
- Recovering from back surgery
Long-term disability insurance is designed to cover illnesses or injuries that last a year or more.
According to the Council for Disability Awareness, the most common long-term disability claims are for:
- Musculoskeletal disorders affecting the back and spine, knees, hips, etc. (29%)
- Cancer (15%)
- Pregnancy (9%)
- Fractures, sprains and strains of muscles and ligaments (9%)