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 ?
Social Security Administration fact sheet released in June 2016, although most people understand the importance of protecting their income, less than half of the population currently has long-term disability income insurance.
One-third of full-time workers lack long-term disability income insurance and nearly four in ten employees have declined to buy a group DI policy offered to them by their employers.
The report reveals that more than one-third (38%) of workers whose employers offered them the option to pay for group long-term disability income insurance declined to buy it, leaving most uninsured.
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.
3) Another source concludes that about 82% of American workers either have no long-term disability income insurance or believe that the coverage they do have is not sufficient.
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.
About 60% of small companies, or those with fewer than 500 employees, provide long-term disability income insurance to employees, according to Limra.
One-half of the CFA/ACLI respondents covered by long-term disability income insurance said they knew the percentage of their income that would be replaced.
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.
utilizes a comprehensive, macro-economic approach in addressing the life insurance and long-term disability income insurance needs of individuals and businesses.
The three-and-one-half-day seminars cover group short- and long-term disability income insurance contracts, benefits, underwriting and pricing.

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