Short- and long-term disability insurance are important benefits that many employers offer to their employees. These benefits can provide a valuable safety net for those employees lucky enough to have an employer who includes them as part of their benefits package. However, is the benefit as valuable as it appears to be?

In most circumstances, if long-term disability is offered through your employment, then the plan is governed by the federal statute known as the Employee Retirement Income Security Act of 1974, or ERISA. ERISA establishes the deadlines for review of the claim and the standard of review for claim denials, but it does not establish what must be in the disability insurance policy.