风险与保险原理课件_ch20 残疾收入保险的一般性质（英文版）（45页）ppt.pdf

1.Provides periodic payments to person insured when he 

or she is unable to work because of injury or illness.

2.Coverage may be provided for accidents only or for 

accidents and sickness.  Coverage for sickness only is rare.

3.Benefit eligibility presumes loss of income, but this 

is usually defined as the inability to pursue an occupation.

Types of Disability Insurers

1.Property and liability insurers

2.Life insurers3.Specialty (monoline) health insurers

Methods of Marketing Disability Insurance

1.Group

2.IndividualNeed for Disability Income Insurance

1.Probability of disability at most ages before 

retirement is greater than the probability of death

2.Because disability can be both total and permanent, 

severity ranks with death of the wage earner in severity

3.When persons other than the disabled person were 

supported by the lost income, the problem is compounded

Protection from Other Sources

1.Workers Compensation for work-related disabilities

2.Compulsory Temporary Disability programs in California, 

Hawaii, New Jersey, New York, Rhode Island, and Puerto Rico

3.OASDI for total and permanent disability

4.Employer-provided sick leave or cash benefits

Extent of Coverage for Disability

1.About 57% of nongovernment workers covered under short-term 

disability plans (including sick leave)

2.Slightly less than 

30% of nongovernment workforce covered for long-term disability

Disability Income Contracts