Long-term Disability Income Insurance

Definition of "Long-term disability income insurance"

Vicky Westrick real estate agent

Written by

Vicky Westrickelite badge icon

Weichert Realtors

Coverage that provides monthly income payments for as long as an insured remains disabled. The insurance policy defines the nature of the disability it covers. Most policies discontinue income payments beyond age 65.

image of a real estate dictionary page

Have a question or comment?

We're here to help.

*** Your email address will remain confidential.
 

 

Popular Insurance Terms

Coverage for small groups that cannot meet the underwriting standards of true group insurance. Even though the franchise insurance covers an entire group, individual policies are written on ...

Two basic kinds of policies sold by health insurance companies: medigap insurance (medicare supplementary insurance); and medicare wraparound ...

Plan under the employee retirement income security act of 1974 (ERISA) for employees who are less than 50% vested. An employee must be permitted to buy back retirement benefits lost because ...

Difference between the yield on earning assets and the cost of interest-bearing liabilities. ...

Coverage for less than one year. Insurers generally charge higher rates for short-term policies than for longer term insurance, such as an annual policy, because of the need to recoup ...

Powers of an agent delegated by an insurance company and shown in the form of a document. ...

Chance that an event will occur. The foundation of insurance is probability and statistics. By pooling a large number of homogeneous exposures an insurance company can predict with a given ...

Method of pricing property and liability insurance. It uses charges and credits to modify a class rate based on the special characteristics of the risk. Insurers have been able to develop a ...

Provision in workers compensation insurance under which an employee who incurs an injury in another state, and elects to come under the law of his home state, will retain coverage under the ...

Popular Insurance Questions