Yes but as we all know it's pretty easy to not qualify for a first class medical and be perfectly healthy for other type of work. It's unlikely most of us could replace our career earnings flying by retraining ourselves for and working another career.

Also if you are social security disabled you technically cannot work and still get the LTD because you are supposed to be disabled. Your social security disability check will also offset our LTD and you will only get the difference from LTD.

Pretty much our LTD is completely useless after 2 years unless you are really messed up. It's a joke

A real plan would pay as long as you can't get a first class medical and pay up to age 65 if you never can get your medical back. It should also not be offset by any other income you make that doesn't utilize a medical certificate. That's true protection that most majors have and even some regionals. Your medical is the riskiest thing about your job.