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 Sales, 2019 (1)

($000)

  Annualized
premiums
Percent change,
2018-2019
Number of
policies
Percent change
2018-2019
Guaranteed
renewable
$124,410 -5% 192,791 -10%
Noncancellable 354,421 1 161,935 -4
Total $478,831 (2) 354,726 -8%

(1) Short-term and long-term individual disability income insurance. Based on a LIMRA survey of 18 personal disability insurance companies. Excludes commercial disability income.
(2) Less than one-half of negative 1 percent.

Source: U.S. Individual Disability Income Insurance Sales, 2019 4th Quarter, LIMRA, 2020.

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Individual Disability Insurance In Force, 2018 (1)

 

  Number of
policies
Percent change
2017-2018
Annualized
premiums
Percent change
2017-2018
Noncancellable 2,205,190 -1% $4,124,641,973 2%
Guaranteed renewable 1,151,558 3 914,403,514 4%
Total 3,356,748 1% $5,039,045,487 2%

(1) Short-term and long-term individual disability income insurance. Based on a LIMRA survey of 20 personal disability insurance companies. Excludes commercial disability income.

Source: LIMRA, Individual Disability Income Insurance, Annual Supplement, 2018.

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