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, 2016 (1)

 

  Annualized
premiums
Percent change,
2015-2016
Number of
policies
Percent change,
2015-2016
Guaranteed renewable $227,316,564 (2) 377,561 (3)
Noncancellable 336,912,380 (3) 166,701 1%
Total $564,228,944 (3) 544,262 (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.
(2) Greater than one-half of negative one percent.
(3) Less than one-half of one percent.

Source: LIMRA’s Quarterly and Annual Individual Disability Income Surveys.

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Individual Disability Insurance In Force, 2015 (1)

 

  Number of
policies
Percent change,
2014-2015
Annualized
premiums
Percent change,
2014-2015
Noncancellable 2,394,345 (2) $4,261,491,419 (3)
Guaranteed renewable 1,692,589 (2) 1,191,483,346 (3)
Total 4,086,934 (2) $5,452,974,765 (3)

(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.
(3) Less than 0.5 percent.

Source: LIMRA.

View Archived Tables