Disability income insurance

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Disability income insurance

An insurance policy that insures a worker in the event of an occupational mishap resulting in disability. Insurance benefits compensate the injured worker for lost pay.

Disability Income Insurance

In the United States, a program, run by the Social Security Administration, that provides for the lost income of individuals who become disabled for an extended period of time. Persons who have paid enough of the FICA tax for a long enough period of time are eligible for Social Security Disability Income Insurance. Payments begin at the start of the sixth month of a person's disability. The amount of the benefit varies according to a number of factors.
References in periodicals archive ?
Then describe what an individual DI insurance policy does--provide a monthly check in the event of an unexpected accident or illness.
Union Central Life, A UNIFI Company, offers a high quality and competitively priced DI insurance to new and existing customers.
There is good DI insurance and there is cheap DI insurance, but there is no good, cheap DI insurance.
Significantly increase the cost of DI insurance by as much as 46% for group products and 33% for individual products; * Limit the range of DI insurance products available to California consumers; * Reduce the total amount of DI protection per life that Californians may access; and * Discourage some DI claimants from returning to work.
Jake Brower (Territory: Ohio, Indiana, Kentucky) -- Brower most recently served as an account executive at The Hartford, where he was recognized as a group life and DI insurance sales leader.
Also on the agenda is the 3rd annual Town Hall Meeting, an open forum for representatives of the major DI carriers to answer questions about the future of DI Insurance.
Sure, they can more clearly see the protection DI insurance offers, but the coverage costs money--money that people are afraid to spend because more difficult times might lay just ahead.
There are two basic kinds of DI insurance available: Income Replacement and Own-Occupation (often referred to as "own-occ").
Specifically, the Milliman analysis finds the proposed changes will: * Significantly increase the cost of DI insurance by as much as 46% for group products and 33% for individual products; * Limit the range of DI insurance products available to California consumers; * Reduce the total amount of DI protection per life that Californians may access; and * Discourage some DI claimants from returning to work.
A key to increasing your DI insurance production is to ask clients with the Waiver of Premium if they understand how it works.
No other DI insurance provider makes such a broad-spectrum assistance program of online support, resources and information available to all of its individual policyholders in an attempt to keep them well.