What is the difference between long term disability (LTD) coverage and state and federal disability programs such as Supplemental Security Income (SSI) and Social Security Disability Insurance (SSDI)?
Long term disability coverage is private insurance offered through individual or group (employer, professional group or association) plans. LTD coverage does not have income and assets restrictions. Coverage varies between insurance policies. State and federal wage replacement programs are public benefits – Supplemental Security Income (SSI) and Social Security Disability Income (SSDI). To be eligible for public income replacement, an individual does not have to belong to a group but must meet specific requirements.
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