If you are one of the many people in Washington State who is evaluating your insurance coverages, you should make sure to include a review of any long-term disability policy with that. Some employers offer long-term disability coverage as part of their benefits packages but they might only offer limited amounts. Other employers may only offer short-term disability coverage options. You could consider purchasing a private policy but should pay attention to the terms as each policy could be different.
As explained by Policy Genius, one of the big differences between different long-term disability policies is the length of time you would be required to wait before being able to apply for or receive benefits. Some policies will have wait times as short as 30 days but others may make you wait a full calendar year before a claim can be made.
Another big difference in these policies relates to your ability to work in a specific field or to work in any capacity. A policy that provides coverage if you are unable to work at all is referred to as an any occupation policy. A policy that provides coverage if you are unable to work in your particular area is called an own occupation policy. The former may have less expensive premiums but it can also be harder to qualify for benefits under these policies.
This information is not intended to provide legal advice but is instead meant to give residents in Washington State an overview of some of the nuances involved in a long-term disability policy so that they can review terms and fully understand their coverage options.