Disability Insurance

Disability insurance, often called disability income insurance, is a form of insurance that insures the beneficiary's earned income against the risk that disability will make working (and therefore earning) impossible.

Disability

Disability benefit, or disability pension, is the largest kind of disability insurance, and is provided by government agencies to people who are unable to work due to a disability, temporarily or permanently. Several studies have reported a link between increased sickness absence and elevated risk of future disability pension. In the U.S., disability benefit is provided within the category of Supplemental Security Income, and in Canada, within the Canada Pension Plan. In other countries, disability benefit may be provided under Social security system. Private, for-profit disability insurance plays a role in providing incomes to disabled people, but the nationalized programs are the safety net that catches most claimants.

Insurance

Promise of reimbursement in the case of loss; paid to people or companies so concerned about hazards that they have made prepayments to an insurance company.