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.
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Employers that do not offer disability-income insurance, which helps workers and their families pay living expenses while a wage earner is unable to work, cite high costs for such coverage as well as the belief that work activity does not indicate a high-enough disability risk.

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