Disability Insurance

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Disability Insurance often called DI or disability income insurance, or income protection is a form of insurance that insures the beneficiary’s earned income against the risk that a disability creates a barrier for completion of core work functions. For example, the worker may suffer from an inability to maintain composure in the case of psychological disorders or suffer an injury, illness, or condition that causes physical impairment or incapacity to work. DI encompasses paid sick leave, short-term disability benefits (STD), and long-term disability benefits (LTD).

Statistics show that in the US a disabling accident occurs, on average, once every second. More than one in four 20-year-olds today will be unable to work due to an illness or injury for one year or more before retirement. The same concept is instantiated in some countries as income protection insurance.

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