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June 13, 2025
Long-Term Disability Coverage
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Dawn Allcot
Sunday, 30 June 2024 / Published in Disability Coverage, Insurance

Why Your Clients Need Long-Term Disability Coverage

LTD offers “same occupation” coverage and no waiting periods for claims.

Smart insurance brokers are always seeking ways to upsell ancillary benefits. If you have a stable of clients purchasing statutory benefits like TDB in New Jersey or Paid Family and Medical Leave (PFL, PFML) in a growing number of states, you have a prime opportunity to expand the coverage lines to include benefits people may not think about but may need in the future.

While paid family and medical leave, STD, or DBL covers people with a short-term illness or injury not related to work, long-term disability can cover long-term or critical illnesses or injuries that extend past 26 weeks or may even be permanent.

When you mention this voluntary benefit to benefits managers, CFOs, or business owners, however, they might argue that Social Security Disability Insurance, a mandatory program covered through payroll taxes and the federal government, fills that role. But LTD offers so much more than our country’s SSDI program.

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Why You Need Long-Term Disability If You Have SSDI

A private LTD policy, often called Disability Income (DI),w offers many benefits over the government-subsidized SSDI coverage. These advantages include:

  • Higher maximum benefit amounts
  • Shorter waiting periods than Social Security
  • “Same occupation” coverage
  • Personalized service

Better Benefits

In 2024, the maximum Social Security Disability (SSDI) benefit is $3,822, calculated based on the worker’s average lifetime earnings. Most workers receive an average of just $1,537 per month in SSDI, according to statistics from finance site Investopedia.com.

You probably already know the cost of living in your area and how most people are struggling to keep up with inflation today.

But to really hammer the point home: The median mortgage payment for new applicants across the U.S. in March 2024 was $2,201, according to the Mortgage Bankers Association as reported by Bankrate.com.  If a worker on disability collects $1,537 per month, there’s a good chance they can’t pay their mortgage, not to mention put food on the table or pay any other bills.

Imagine buying a house and then being diagnosed with a critical, terminal illness or being injured and unable to work. To maintain your standard of living, you’ll need at least one additional form of income, whether that comes from savings, investments, or insurance.

Long-term disability offers maximum benefits from $2,000 up to $15,000 per month, or more. If you also qualify for SSDI, you can collect these benefits concurrently.

Shorter Waiting Periods (LTD Picks Up Where Short-Term Disability or PFML Leaves Off)

Most LTD policies written by The DBL Center’s preferred network of carriers have a waiting period of 180 days. In some cases, executives may have waiting periods as short as 60 to 90 days.

If you make an STD or short-term disability claim and it looks like your disability may persist past 26 weeks, you can file an LTD claim immediately. Once your short-term benefits run out, your LTD policy will kick in.

When you file an SSDI claim, you’ll have to wait at least six months to start receiving benefits. It might take up to 12 months from the time you apply to gain approval.

Same Occupation Coverage

When you file for SSDI benefits, you must prove that you can’t work in your chosen field, performing the same work you did before your disability, and also that you can’t adapt to new work because of your condition.

In other words, if someone can no longer perform their job but may be able to work a different, lower paying job in a different field, they can be denied SSDI benefits.

Additionally, your illness must be chronic, and expected to last at least one year, or terminal and result in death.

Many LTD policies provide “same occupation” coverage, meaning that if your illness or injury prevents you from working in your current field for any length of time after short-term disability benefits have expired, you can file a claim.

Personalized Service

If you’ve ever dealt with government offices, you know there can be long wait times for phone calls. The SSA.gov website warns that if you are calling about the status of your disability claim, it can take between 200 and 230 days for the administration to review your case.

When your clients opt in for LTD coverage through one of our preferred carriers, you can be assured of top-notch customer service by phone, online, or sometimes through an app. You also have the backing of The DBL Center as your white-glove, white-label back-office staff to assist in guiding your clients through the claims process.

Why C-Level Executives Want Long-Term Disability Insurance

C-level executives presumably have other forms of income, often in the form of investments and emergency savings. But if they can secure income in the event of a long-term disability or illness, at an exceptionally low rate paid for with pre-tax dollars, they can leave their investment savings in accounts to grow.

With CD rates as high as 6% and even high-yield savings accounts delivering interest rates between 4% and 5%, it doesn’t make sense to withdraw these funds to cover expenses related to a health emergency.

Likewise, selling stocks can lead to capital gains tax, not to mention the loss of potential future income earned by letting the stocks continue to grow and reinvesting the dividends.

When you show your clients the advantages of an LTD policy, not just as a recruiting and retention tool, but to protect their own wealth, long-term disability becomes an easy sell.

Reach out to The DBL Center today to help you review policy options and generate a quote.

FAQs

Which is better: Long-term disability or Social Security disability?

Long-term disability (LTD), sometimes called “disability income,” offers a shorter waiting period, benefits of up to 60% of your salary or more, and “same occupation” coverage, which means that if you can’t work in your current field, you can collect benefits. SSDI has a lower maximum benefit and a longer waiting period. Your claim can be denied if you are able to work in any industry or field.

Can you collect long-term disability and Social Security at the same time?

You can collect long-term disability from your private or employer-sponsored policy and Social Security Disability Income (SSDI) concurrently. An LTD policy is a great way to supplement your SSDI money if you become ill or injured and unable to work.

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