Long-term disability (LTD) insurance is a type of private insurance that can help replace lost income if you're unable to work due to a disability. LTD insurance can cover a portion of your income for several years, up to retirement, depending on your policy and needs.

Some conditions that may qualify for LTD benefits include: Deafness or hearing loss, Blindness or vision loss, Chronic pain, Chronic fatigue, and Bipolar disorder.

LTD insurance typically has an elimination period of at least 90 days. After that, benefits are paid for a longer term, which can be two years, five years, 10 years, to age 65, or for life. Most plans provide benefits regardless of whether the injury or illness occurred at work or outside of work.

LTD insurance is different from Social Security disability benefits, which are a governmental program funded by payroll taxes paid by employers and employees.