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 ?
Members are able to purchase both short- and long-term disability income insurance through the REAGIT Group Disability Insurance program.
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.
The companies also will pay a fine of $15 million, which will be divided on a pro-rata basis among the participating states based on the long-term disability income insurance premium in each state as of Dec.
AFA offers a wide range of voluntary products, including short- and long-term disability income insurance, gap plan supplemental out-of-pocket medical expense insurance, cancer insurance, life insurance, and accident only insurance.
workers either have no long-term disability income insurance or have coverage they think is inadequate.
About 60% of small companies, or those with fewer than 500 employees, provide long-term disability income insurance to employees, according to Limra.
Under the agreement, Chiyoda will set up a wholly owned subsidiary in June to sell Unum's long-term disability income insurance plans to corporate clients in Japan.
The subsidiary will promote Unum's long-term disability income insurance plans, which Chiyoda has already begun marketing, in combination with its parent company's life insurance policies.
utilizes a comprehensive, macro-economic approach in addressing the life insurance and long-term disability income insurance needs of individuals and businesses.
Seventy-five percent of the private sector workforce has no long-term disability income insurance according to Social Security Basic Facts, June 2003.
Long-term disability income insurance helps workers and their families pay living expenses while a wage earner is unable to work.
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.

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