Social Security Disability

The Social Security Disability insurance and SSI programs are administered by the Social Security Administration. They are in place to assist any individual who becomes unable to work because of a physical or a mental condition. Any person who is found to be disabled is entitled to monthly cash benefits as well as Medicare or Medicaid.

Long Term Disability

Long Term Disability insurance is typically an employment benefit The policies are sold by carriers such as Unum, Aetna, Jefferson Pilot and Liberty Mutual. The policies are governed by the Employee Retirement Income Security Act (ERISA) passed by Congress in 1974. Coverage varies from one policy to the other but typically provides for monthly cash benefits of 60% of salary up to age 65. The benefits are reduced by Social Security Disability benefits.