Disability income insurance

(redirected from Long Term Disability Income Insurance)

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 ?
MetLife is at the forefront of providing innovative disability and absence management solutions through an integrated portfolio of products and services, such as short term (including state-mandated plans) and long term disability income insurance, claim administrative services for self-insured customers, Individual Disability Income Buy-Up, integrated occupational and non-occupational disability, FMLA Administration, and long term disability (LTD) reserve buy-outs.
Employers choose to provide a certain level of "core" life insurance, long term disability income insurance or dental benefits by selecting at least two out of three coverages for their eligible employees.
1 million in 1992, primarily attributed to increased loss ratios related to the long term disability income insurance business.

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