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 ?
Through publicizing the results of the survey and distributing the brochure, we hope to convince many workers and employers alike that long-term disability income insurance should be available at work," said Stephen Brobeck, CFA's executive director.
There are also workers who have no access to employer-supported disability income insurance.
to discuss the significance of those characteristics for managers and professionals in the individual disability income insurance industry
By embracing online banking and other convenience-enhancing financial services, Americans have shown that they are increasingly comfortable with managing confidential information online," said Robin MacPherson, Vice President, Underwriting and New Business Services for Berkshire Life Insurance Company of America, the Guardian company that issues its individual disability income insurance policy.
Granted the employee is currently taxed on the premium, but they are equally taxable on group term and LTD anyway, and in an environment where income taxes are expected to increase, life and disability income insurance offer the potential for the payout of tax-free benefits.
Individual disability income insurance helps people protect a greater portion of one of their greatest assets--their ability to earn an income;' said Tara Reynolds, corporate vice president of MassMutual's U.
A leading provider of medical stop-loss coverage, Symetra announced plans in January 2011 to leverage its strong relationships with employee benefits brokers and deliver an enhanced suite of group life and disability income insurance products and solutions to mid-sized businesses.
Ron Keller is Manager, Disability Income Insurance Competition and Market Research for The Union Central Life Insurance Company, a UNIFI Company, in the Cincinnati area.
The product is an easy to understand, low-cost, high-value disability income insurance policy designed by the Knights of Columbus in collaboration with Disability Management Services, Inc.
Despite these concerns, approximately one-third of these employees earning $100,000 or more say they have no disability income insurance coverage.
A new Massachusetts Mutual Life Insurance Company (MassMutual)/Harris Interactive survey released today shows most Americans take a surprising number of items ranging from office supplies, plants and even toilet tissue, but they may be abandoning one of the most important possessions--their supplemental disability income insurance.

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