Disability

DISABILITY INSURANCE

Disability insurance pays an insured person an income when he or she is unable to work because of an accident or illness.

 

Individual Disability Insurance, New Issues Sale, 2015 (1)

  Annualized
premiums
Percent change,
2014-2015
Number of
policies
Percent change,
2014-2015
Guaranteed renewable $227,683,997 1% 378,196 -3%
Noncancellable 335,343,117 6 167,579 8
Total $563,027,114 4% 545,775 (2)

(1) Short-term and long-term individual disability income insurance. Based on a LIMRA survey of 19 personal disability insurance companies. Excludes commercial disability income.
(2) Less than one-half of 1 percent.

Source: LIMRA.

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  • Annualized premiums for new disability income policies rose by 4 percent in 2015, following a 1 percent increase the previous year.