Disability Insurance

Insurance Journal  Feb 27  Comment 
Authorities say a Massachusetts trolley driver paid a man $2,000 to attack him while wearing a Halloween mask so the driver could fraudulently collect workers’ compensation and disability insurance. A Suffolk County grand jury indicted Thomas...
New York Times  Feb 12  Comment 
Insurers have denied life and disability coverage to men taking Truvada to prevent H.I.V. infection, say gay rights advocates and medical experts.
WA Business News  Dec 12  Comment 
The state government has announced its decision to join the National Disability Insurance Scheme (NDIS), replacing the agreement signed in January by the Barnett government for a locally administered NDIS.
WA Business News  Dec 12  Comment 
WA Business News  Nov 14  Comment 
AWB Building Co principal Graeme Kennedy cites the introduction of the National Disability Insurance Scheme as the key driver of his decision to set up his business three years ago.
Motley Fool  Nov 11  Comment 
These are your options for income if you're too disabled to work.
MarketWatch  Oct 23  Comment 
Hartford Financial Services Inc. has agreed to pay $1.45 billion to health insurer Aetna Inc. for a unit that provides life-, disability-income and other insurance products to employers’ benefits programs in the U.S.
WA Business News  Jul 6  Comment 
Removing Western Australia's Disability Services Commission director-general while changes to the National Disability Insurance Scheme are under way is like sacking a coach before the grand final, the state opposition says.
guardian.co.uk  Jun 14  Comment 
Australia’s progressive tax system does not heavily penalise high-income earners but the flat rate Medicare levy burdens lower-income earners more Since the May budget one area of dispute has been the raising of the Medicare levy to 2.5% to pay...
Motley Fool  Apr 8  Comment 
Nearly everyone pays this key tax, even if they don't know what it's for.
Motley Fool  Feb 7  Comment 
Have you ever thought about what would happen if you became disabled and couldn't work anymore? If you're assuming you can count on Social Security to keep you afloat, think again.

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Disability insurance guarantees a policy holder replacement income on a tax-free basis if he or she is unable to work due to illness or physical injury. Social Security, Worker's Compensation, Employer sponsored plans, and Individual sponsored plans are all different forms of disability insurance. Employees commonly undervalue disability insurance because they assume they will never need it. Unfortunately according to a recent study, most people estimate they have only a 16% chance of becoming disabled during their working years.[2]

  • Employees under age 35 have a one in three chance of being disabled for at least six months during the course of their career.
  • Men have a 43% chance and women have a 54% chance of becoming seriously disabled during their working years.[3]

Disability Insurance Plans

Disability insurance plans contain information about:

  • Definition of total disability
  • Renewability of the insurance policy
  • Residual Disability Insurance
  • Benefit Period
  • Elimination Period
  • Optional Riders
  • Policy Exclusions
  • Renewability Provision
  • Definition of Disability
  • Graded Lifetime Benefits
  • Residual Benefits
  • Cost of Living Benefits
  • Subsequent Disability Provisions
  • Catastrophic Disability Benefits
  • Presumptive Disability
  • Waiver of Premium
  • Future Increase Options

Getting Disability Insurance

If your employer does not sponsor Disability Insurance an individual can purchase a policy by:

  1. Requesting a quote
  2. Filling out and application
  3. Scheduling a physical
  4. Waiting for insurance companies to review your application
  5. Getting approved

Companies that Sell Disability Insurance

New York LIfe Insurance Co


  1. Guide to Individual Disability Income Insurance, America's Health Insurance Plans, 2007
  2. Protect Your Income, Disability Statistics
  3. Sound Financial Plan, MDRT
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