With long-term disability insurance, employees can be sure they have the necessary protection should something go wrong. Although many employees have a sense of invulnerability, disabling conditions are more common than death, but LTDI at least gives affected employees some sort of income when working is not an option, says Lenny Sanicola, senior practice leader of benefits at WorldatWork.

"Having LTD coverage is important to protect one's income and have a sense of financial security for oneself and one's family," Sanicola says. "Lengthy periods of disability can be financially devastating to workers and their families. LTD coverage provides protection against that risk of becoming sick or injured and unable to work for an extended period of time."

Many employers have traditionally paid the full cost of LTDI, but that has been changing in favor of a new trend, Sanicola says. Instead, including LTDI in the voluntary benefits package is becoming more popular. By offering LTDI as a voluntary benefit, employees can still elect coverage, but it allows employers to shift the cost to the employees.