Long term disability insurance is an insurance that grants individuals with coverage after they have suffered a long term disability. When an individual suffers a long term disability, chances are their job will also suffer. Without employment, they are unable to receive the income needed to survive, and could therefore be made subject to severe financial problems. With long term disability insurance, the insured party will be able to continue receiving income, not in full but, in part, compensated for by taxes. If the insured paid their premium with their net income, their financial benefits should not be subject to taxes. For an insured person to receive their benefits, the obvious stipulation is that they have suffered a long term disability, but the disability must also be one that has removed their ability to work. After filing a valid claim, benefits from the company will be provided to the insured according to the agreed terms. Unlike a short term disability insurance, these benefits in some policies may continue as long as retirement, if need be.