A Firm Foundation: How Insurance Supports the Economy

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, 2018 (1)

($000)

  Annualized
premiums
Percent change,
2017-2018
Number of
policies
Percent change,
2017-2018
Guaranteed renewable $349,192 -6% 435,309 2%
Noncancellable 251,221 1 169,371 4
Total $600,413 -2% 604,680 3%

(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.

Source: U.S. Individual Disability Income Insurance Sales, 2018 4th Quarter, LIMRA, 2019.

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Individual Disability Insurance In Force, 2017 (1)

 

  Number of
policies
Percent change,
2016-2017
Annualized
premiums
Percent change,
2016-2017
Noncancellable 2,364,276 -1% $4,403,209,890 2%
Guaranteed renewable 1,681,405 (2) 1,218,850,095 3
Total 4,045,681 (2) $5,622,059,985 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.
(2) Less than 0.5 percent.

Source: LIMRA's Quarterly and Annual Individual Disability Income Surveys, LIMRA, 2017-2018.

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