Disability insurance protects your income if you're unable to work due to illness or injury. Here's a breakdown of top providers and considerations when choosing coverage.

Top Disability Insurance Providers

• Aetna
• Offers individual disability plans covering short-term and long-term disabilities.

• Known for its comprehensive insurance options and nationwide presence.

• Liberty Mutual

• Provides group disability plans for employers to offer their staff.

• A well-established provider with over a century of experience.

• Cigna

• Focuses on short-term disability plans for employees.

• Provides coverage for recovery periods of up to two years.

• MassMutual

• Offers individual long-term disability income insurance.

• A great option for lifelong coverage and supplemental plans.

• The Hartford

• Covers both short-term and long-term disability needs.

• Additional benefits like counseling services for policyholders.

• Aflac

• Specializes in short-term disability insurance with flexible payouts.

• Provides coverage for non-work-related injuries and illnesses.

• MetLife

• Offers employer-sponsored and individual disability plans.

• Focuses on customizable coverage options to suit diverse needs.

• Sun Life Financial

• Provides long-term disability plans with sustainability in focus.

• Excellent reputation for client satisfaction and global reach.

• Mutual of Omaha

• Features a variety of plans, including accident-only coverage.
• Ideal for flexible plan customization and affordability.

Key Features to Consider When Choosing Disability Insurance

• Cash Benefits Based on Salary
• Group Plans: Typically replace ~60% of your salary.

• Individual Plans: May offer up to 80% replacement.

• Benefit Duration

• Short-Term: Coverage from 30 days to 2 years.

• Long-Term: Coverage lasts 2 years to a lifetime.

• Elimination Period

• The waiting time before benefits start (commonly 30 - 90 days).

• Longer waiting periods lower premiums.

• Riders and Add-Ons

• Inflation Riders: Adjust benefits annually for inflation.

• Residual/Partial Disability Riders: Allow partial benefits for part-time work.

• Locked-In Premiums

• Some policies offer fixed premiums for consistent financial planning.

• Options include renewable coverage with potential premium adjustments.

• Group vs. Individual Plans

• Group Plans: Affordable, often employer-sponsored, with shorter durations.
• Individual Plans: Higher benefits and longer coverage durations but more expensive.

Types of Disability Insurance Coverage

• Short-Term Insurance

• Best for injuries or illnesses requiring recovery within two years.

• Long-Term Insurance

• Covers prolonged or permanent disabilities, often up to retirement age.

• Own Occupation Insurance

• Pays benefits if you're unable to perform your specific job duties.

• Any Occupation Insurance

• Requires inability to work in any job, offering stricter eligibility.

• Government Programs (e.g., Social Security Disability)

• Lengthy application processes; suitable for severe, long-term disabilities.

Who Needs Disability Insurance

• Workers with Physically Demanding Jobs

• More prone to injuries that could prevent job performance.

• People Recovering from Surgeries

• May be unable to work during recovery or rehabilitation.

• Individuals with Chronic Conditions

• Heart disease, asthma, or other health issues can limit work abilities.

• Anyone Seeking Financial Security

• Protects income and supports families during unexpected health crises.

FAQs About Disability Insurance

• What does disability insurance cover?

• Non-work-related injuries or illnesses that prevent you from working.

• How much does it cost?

• Generally 1 - 3% of your salary, depending on gender, health, and occupation.

• What's the difference between workers"9 comp and disability insurance?

• Workers"9 comp covers injuries at work, while disability insurance covers non-work-related events.

• Can I purchase short-term disability insurance individually?

• Yes, through private providers if not offered by your employer.

• How long can I stay on long-term disability?

• Duration varies by policy: 2 years, 5 years, or up to retirement age.

Pro Tip

Compare multiple providers and customize your coverage with riders for inflation, return-to-work options, or extended benefit durations to match your needs.

Stay prepared with a plan that secures your income and supports you through life's unexpected challenges.

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