Group plans providing coverage for more than two years are known as?

The term that describes group plans providing coverage for more than two years is long-term disability coverage. Long-term disability insurance is specifically designed to provide income replacement for an extended period, typically after a short-term disability policy has expired. These plans are crucial for individuals who may be unable to work for an extended duration due to illness or injury.

Long-term disability coverage typically begins after a predetermined waiting period, which can vary between programs. It ensures that policyholders receive ongoing financial support beyond the initial recovery phase, helping to maintain their standard of living while they are unable to work.

The other types of coverage mentioned do not typically imply the same duration of benefits or specific focus on extended coverage beyond a short-term period. The terminology used in long-term disability insurance is clear and distinct, making it essential for individuals seeking stable financial backup for prolonged absences from work due to health issues.