LTD, or long-term disability, is an insurance policy that provides something not covered by any of your other current policies. It provides you with the means to continue paying your bills and living your life without major changes in the event that you are seriously injured or become ill. A long-term disability policy differs from the short-term disability you probably have as part of your work benefits. It provides a much wider and longer scope of coverage.
Long-term disability insurance is designed to support you beyond the length of time that it takes to recover from a minor or moderate injury or to get over a short-lived illness. A serious illness that requires long-term treatment and care, or a major injury that leaves you facing a long rehabilitation process, are far beyond the coverage any short-term disability policy provides. When that coverage runs out, you will be left holding the bag.