To replace income lost due to an accident, illness, or injury.
With so many people living paycheck to paycheck these days, even a temporary loss of income can disrupt a family's lifestyle and financial security. That's why group disability insurance can be a tremendous source of comfort for many working families.
of those entering the workforce today will suffer a disability before they retire.1
of disabilities are caused by illness rather than accidents.2
Group disability insurance helps provide financial stability by replacing lost income if a person falls ill or becomes injured and cannot work for an extended period of time. And, unlike workers' compensation, this economical coverage pays a benefit even if the covered illness, injury, or accident takes place at home.
Long-term and Short-term Disability Plans
Pays a monthly benefit for a specified period of time in the event the certificate holder is unable to work due to an illness, injury, or accident. (Various terms available.)
Accidental Death and Dismemberment
Pays benefits when death or dismemberment occurs due to an accident. Offered as a stand-alone or supplemental product.
Accident Only Disability
Pays a monthly benefit when the certificate holder is disabled due to an accident.
Business Overhead Expense
Pays covered office operating expenses such as rent and utilities if the certificate holder is unable to work due to an illness, injury, or accident. (Various terms available.)
1Social Security Administration," The Faces and Facts of Disability," 2021.
2Kiplinger, "Are You Underestimating Your Need for Disability Insurance?," September 9, 2020.