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, 2020 (1)

($000)

  Annualized
premiums		 Percent change,
2019-2020		 Number of
policies		 Percent change,
2019-2020
Guaranteed
renewable		 $93,000 -25% 138,994 -28%
Noncancellable 336,023 -5 153,849 -5
Total $429,023 -10% 292,843 -17%

(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.

Source: U.S. Individual Disability Income Insurance Sales, 2020 4th Quarter, LIMRA, 2021.

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Individual Disability Insurance In Force, 2019 (1)

 

  Annualized
premiums		 Percent change,
2018-2019		 Number of
policies		 Percent change,
2018-2019
Noncancellable $4,163,830,441 1% 2,175,867 -1%
Guaranteed renewable 877,075,671 -3% 1,091,926 -4
Total $5,040,906,113 1% 3,267,793 -2%

(1) Short-term and long-term individual disability income insurance. Based on a LIMRA survey of 17 personal disability insurance companies. Excludes commercial disability income.

Source: LIMRA, Individual Disability Income Insurance, Annual Supplement, 2019.

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