What is disability income insurance?

Disability income insurance provides insured individuals with income when they can no longer work because of an accident, injury, illness, and/or disability. DI insurance is available through employers, the Social Security Administration, or private insurance companies. Policies pay out benefits for short- or long-term disability coverage.

Why is disability income insurance important?

That's why disability income insurance is more than just a contract—it's a valuable way to protect your income. Understanding disability income insurance can help you know your options and develop an income security strategy that can give you confidence in your financial future. What is disability income insurance?

How does disability income insurance work?

The maximum benefit goes beyond STD coverage, from a few years to the rest of the insured individual's life. The final premium for disability income insurance varies and is based on a number of factors. Policy premiums generally range between 1% and 3% of your gross income. Insurance underwriters also consider age during the underwriting process.