What is long-term disability insurance?

Long-term disability insurance is insurance that you may purchase on your own to cover you in the event you're unable to work and to replace your loss wages.

It's also available as a group plan benefit where you work for an employer and they may provide LTD benefits to you as a fringe benefit.

Again, the idea is that if you're unable to work and earn money, then it's an income replacement to replace the loss wages due to your illness or injury.