Disability

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, 2012 (1)

  Number
of
policies
Percent
change
2011-2012
Annualized
premiums
Percent
change
2011-2012
Noncancellable 152,827 2% $314,944,244 5%
Guaranteed
renewable
327,944 -6 211,957,298 -3
Total 480,771 -3% $526,901,544 2%

(1) Short-term and long-term individual disability income insurance. Based on a LIMRA survey of 21 personal disability insurance companies. Excludes commercial disability income.

Source: LIMRA International.

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  • Annualized premiums for new disability income policies rose by 6 percent in 2011, following a 4 percent decrease the previous year.