Best disability insurance companies of September 2024

There is an added cost for the following optional benefits. Rider benefits may vary by state.

• Extended regular occupation. Extends current occupation coverage for the length of the benefit period.
• True regular occupation. This policy extends regular occupation coverage for the duration of the benefit period with full monthly benefits if you are currently employed but can no longer work in your original occupation.
• Residual disability. Pays a percentage of your monthly benefit if you become partially disabled.
• Return of premium. Every 10 years, 50% to 80% of the premiums you have paid, minus any claims paid, could be returned if you have not received disability insurance benefits.
• Cash value benefit. Provides a percentage of all premiums paid for a policy and riders, minus any claims paid.
• Mental or nervous and substance abuse extension. Extends mental or nervous and substance abuse coverage for the duration of the benefit period.
• Catastrophic disability benefit. Pays an additional benefit amount if you are diagnosed with a catastrophic disability and can no longer perform at least two daily living activities without assistance.
• Cost-of-living adjustment. Increases your benefit annually when receiving benefits.
• Social insurance supplement. Lowers your premium if the benefit you receive is the amount of monthly income you purchase, less any Social Security benefits provided.

There is an added cost for the following optional benefits. Rider benefits may vary by state.

• Automatic increase. Benefit increases by 4% annually for five years.
• Basic or enhanced residual disability. Protects income if you’re partially disabled and can return to some level of work.
• Catastrophic disability. Adds additional coverage if you suffer a catastrophic disability and need assistance to complete certain daily living tasks.
• Cost of living adjustment. Increases benefit after a year of disability by either 3% (simple) or 6% (compound).
• Future increase. Provides additional protection to account for income increases over the course of your career.
• Social insurance substitute. Fills in income gap while waiting to qualify for Social Security or worker’s compensation.
• Student loan repayment. Provides additional coverage to reimburse student loan payments.

There is an added cost for optional benefits. Rider benefits may vary by state.

The Century+ long-term disability insurance plan can be customized with the following riders:

• Automatic benefit increase rider. Increases benefit amount by 5% each year until benefit amount doubles.
• Catastrophic disability benefit rider. Extends benefit if you are catastrophically disabled and total disability benefit has been paid.
• Critical illness benefit rider. Pays a lump-sum benefit the first time you are diagnosed with a critical illness, such as cancer, a heart attack, stroke or kidney failure.
• Guaranteed insurability rider. Allows you to increase disability benefits within a certain time frame.
• Non-cancelable rider. Guarantees that you can renew your policy at the same rate until age 65.
• Own occupation rider. Extends coverage for disabilities that prevent you from working in your own occupation from 2 to 5 years or from 10 years to age 65 or 67.
• Residual disability benefit rider. Pays a monthly benefit if a disability prevents you from performing all the duties required by your job.
• Retroactive injury benefit rider. Pays out a lump-sum benefit at the end of the elimination period if a disability is the result of an injury.
• Return of premium benefit rider. Returns some or all of premiums paid, minus any claims, if you surrender your policy, your policy lapses, you turn 65 or you die.
• Supplemental disability income rider. Works alongside social insurance programs to offset benefits dollar for dollar.

There is an added cost for the following optional benefits. Rider benefits may vary by state.

• Automatic benefit. Allows for an annual, automatic purchase of benefits and a 3% increase.
• Benefit increase rider. This rider lets you purchase additional coverage every three years as long as you financially qualify, are actively working and aren’t disabled. It requires an application every three years.
• Catastrophic disability benefit rider. Provides up to 100% of pre-disability earned income if the insured is diagnosed with a presumptive disability, qualifies under the definition of total disability, can’t perform two out of six activities of daily living or has a severe cognitive impairment.
• Cost-of-living adjustment rider. Increases benefit by a compound 3% for policies with a benefit period longer than a year.
• Extended partial disability benefits rider. Provides a benefit if a disability leads to reduced occupational capacity that results in a 15% or more reduction of income.
• Future insurability option rider. Allows you to purchase additional coverage as your income increases.
• Group supplement disability benefits rider. Provides additional return-to-work benefits to supplement group disability coverage during a partial disability.
• Own occupation rider. Provides a benefit if a sickness or injury prevents you from continuing work in your usual occupation.
• RetireGuard. Helps replace employee and employer match contributions that would have been made to a defined contribution planned prior to a diagnosed disability.
• Social insurance rider. Provides disability benefits without duplicating Social Security or other social insurance benefits.
• Short-term disability benefits rider. This rider provides short-term disability benefits while you’re waiting for long-term disability with a 180-day or longer waiting period or for an employer’s salary continuation plan.
• Student loan rider. Helps you cover student loan payments if you’re totally disabled.

There is an added cost for the following optional benefits. Rider benefits may vary by state.

• Annual increase. Benefit increases by a compounded 3% each year for the first 20 years or until you reach the age of 50.
• Maximize your benefit. Ability to increase your benefit without a medical exam in the first three years to account for increased income. After three years and up to 20 years or the age of 50, you can increase your benefit if you experience a significant life event, such as marriage or the birth of a child.
• Cost-of-living adjustment. Adjust your benefit if you’re disabled, by 3% or 6% cost-of-living compounded annually.
• Capital sum benefit. If you lose the use of a hand or foot or lose sight in one eye without expectation of recovery, you receive a one-time, lump-sum benefit equal to 12 times your monthly benefit.
• Catastrophic disability benefit. Receive an extra monthly benefit if you become catastrophically disabled and are unable to perform two or more activities of daily living.
• Death benefit. A lump-sum death benefit is received by your beneficiary if you die while receiving disability.
• Supplemental health benefit. Receive a one-time, lump-sum benefit equal to six times your monthly benefit if you are disabled for 90 days due to coronary artery bypass surgery to resolve two or more blocked arteries, are diagnosed with certain cancers or have a stroke that results in neurological deficits.
• Presumptive disability benefit. Receive monthly benefit payments if you lose your ability to speak, hear, see in both eyes or use a hand(s) or foot/feet, even if you’re still able to work.
• True own occupation definition of disability. Receive benefits if you’re unable to return to your current occupation, even if you return to work in a new occupation.
• Residual disability and recovery benefit. If you’re residually disabled and able to work but suffered an income loss of 15% or more, you’ll receive a benefit proportionate to your loss of income.
• Short-term residual disability benefit. If you’re residually disabled and suffered an income loss of 15% or more, you’ll receive loss earnings for 6 or 12 months.