Imagine you are out in the back yard, working hard to rebuild your shed, and then you injure yourself.
If you were in the office, you would easily be able to claim compensation.
At home, things are a bit different. Disability insurance allows you to continue providing for yourself and your family, even when you are incapacitated by an inconvenient injury.
Also known as a disability income, disability insurance kicks in immediately after you get an injury or suffer from a medical condition that prevents you from working.
Disability insurance has two forms: long-term disability insurance, and short-term disability insurance. Short-term insurance compensates you for a brief recuperation (typically up to two years), while long-term disability payments hold for an extended period.
Short-term disability insurance is mostly recommended for small accidents, such as a broken limb or other fractures, complicated pregnancies, and other ailments that could disable you for a brief period.
On the other hand, long-term disability insurance is appropriate for terminal illnesses, or life-shattering injuries, like amputations, mental illnesses, and the like.
10 Best Disability Insurance Companies
There are plenty of companies offering disability insurance.
Here are the top 10 companies offering the best disability insurance in 2020:
- The Standard Disability Insurance
- The Guardian
- American Fidelity
- Sun Life Financial
- The Hartford
The Standard stood out for us for so many reasons. It is extremely flexible, and its policies and coverage ratings were much higher compared to other companies.
On top of that, it scores well in terms of customer experience and has a strong reputation. Founded in 1906, The Standard is also reliable and has enough capital to cope with repayments.
Policygenius leverages online search tools with highly skilled professionals to help clients source the best health, life, and long-term disability insurance options.
Based in New York, their structure allows users to access free and personalized insurance quotes from the best companies. It has a great reputation and outstanding customer service.
- Highly rated on Trustpilot with a score of 9.8.
- Supports online applications (which take five minutes).
- Provides top quotes from the best insurance companies.
- Has many benefit options for all budgets.
- Offers guaranteed fixed, own occupation, and residual disability riders.
This is one of the best places to source multiple benefit quotes in a fast and simple way. It has great customer support and plenty of options.
Breeze Disability Insurance
Breeze’s claim to fame is that you can get a disability insurance policy 100% online.
- 100% online application with fully-automated underwriting technology, meaning no doctor visits
- Affordable options for many different occupations, including the self-employed
- Get an online quote in seconds and coverage online in as little as 15 minutes
- Eight riders add flexibility to policy
- Choose your waiting period
- Benefit terms ranging from one year to until you’re 67
- Underwriting partner is rated Excellent by A.M. Best
This is the up and coming disability insurance company for online sales. Read our Breeze Disability Insurance Review here.
The Standard Disability Insurance
Our top choice, this is one of the most reliable disability insurance companies out there.
A stalwart in the insurance industry, it provides both long-term and short-term disability cover for thousands of Americans. It has over three thousand employees and twenty-five-thousand active policies!
- Comprehensive individual and group policies; both long- and short-term.
- Both partial and complete disability policies.
- Accident disability, and chronic illness insurance.
- Great features and riders are available for almost all policies.
The Standard disability has great features with an excellent payout reputation. It has been around since 1906, making it one of the few reliable disability insurance companies.
The Guardian offers a lot of choices, including:
- Individual Disability Insurance
- Universal Life Insurance
- Variable Life Insurance
- Whole Life Insurance
- Small Business Cover
- Supplementary Individual Income Disability Insurance
- Investment Products
It stands out with its flexible coverage and financial muscle.
Founded in 1860, it is among the most powerful mutual insurers in the U.S. It is also one of the few companies without controversies, and a great customer service record for its non-cancellation, customizable insurance policies, with a renewal guarantee.
- Provides a 40 – 60% after-tax basic salary.
- Includes retirement and student loan repayments.
- Features business owners’ supplementary disability, as well as disability insurance.
- Flexible coverage with benefit terms, as well as optional riders available.
The Guardian has flexible disability insurance for individuals and business owners. It has a great reputation and an outstanding customer service record.
Based in Oklahoma, American Fidelity Assurance offers supplemental insurance policies and financial services.
It was founded in 1960 and has over 1600 employees working hard to give the best customer service. The company offers both short- and long-term disability insurance.
- Supports filing claims online.
- Has personalized plans with several eliminations and benefit periods.
- Covers both partial and full disability.
- Offers a premium benefit waiver.
American Fidelity is a top supplementary insurance company with phenomenal customer support service and an efficient claim filing system. This family-owned company has a is highly ranked by consumers and other reviewers. It has a great history of fulfilling its financial obligations.
Based in Nebraska, Ameritas was established in 1887. It is a reputable insurance company offering a variety of insurance services, such as life, hearing, dental, and vision disability insurance for all types of companies and individuals.
- Provides only supplemental disability or disability income insurance.
- Doesn’t require a medical examination or any income documentation.
- Policies are guaranteed renewal for level premiums.
- Gender-neutral standard discounted policies apply.
- Premiums are calculated from a percentage of the insured’s manual duties.
Ameritas has a simple and easily understood supplemental income policy that is quite affordable. Their standard policies offer exemplary unisex discounts, without the need for a medical exam.
Sun Life Financial
With headquarters in Canada and a U.S. Office in Wellesley Hills, MA, Sun Life Financial provides both group and individual short- and long-term insurance coverage.
Its policies have lots of features and riders that make it attractive to a variety of people. It was founded, in 1999, to offer affordable insurance policies.
- Among the largest employee benefits provider (ranked seventh in America).
- Offers both individual and group short-term and long-term insurance options.
- Provides complete and partial disability insurance cover.
- Offers several features and riders.
Sun Life offers lots of options and features for its insurance plans. It is ranked the seventh biggest employee insurance provider in the U.S. It also has a great reputation and the financial muscle to fulfill its obligations.
This is among the biggest national health and life insurance providers in the US.
It offers optional supplemental insurance that covers cancer, accidents, serious illness, and short-term group policies. Established in 1955, Aflac insurance operates from Columbus, Georgia with more than fifty million clients globally.
- The best voluntary supplemental insurance provider in the U.S.
- Offers short-term group disability insurance.
- It has a guaranteed renewal capped at the age of 70.
- In some states, medical queries are not required.
- Insurance options such as cancer and accidents are also offered.
Highly regarded for the quality of its services, Aflac offers affordable voluntary supplemental insurance. It has a growing operation and a vast portfolio, which has even made it into Fortune 500 magazine’s Most Admired Company ranking.
This is among the oldest companies in the U.S. offering financial services. It was founded over two centuries ago, in 1810. Hartford has an impressive collection of insurance policies targeting both individuals and businesses.
- Offers both long-term and short-term comprehensive group coverage.
- Covers 40-60% of your income before the disability.
- The high short-term (maximum) benefit is $2000 per week.
- The long-term disability policy has provisions for survivor benefits, premium waivers, and dependent benefits.
- Short-term disability policy does not exclude anyone.
This is a trustworthy company with lots of features and options for employees and business owners. The Hartford is highly reputable and capable of financing its obligations to policyholders.
Allstate Corporation is the biggest publicly held company offering casualty and property insurance cover. Founded in 1931, it offers a wide array of insurance services.
Other than asset insurance, it offers health insurance such as life, supplemental health, long-term care, disability, and accident insurance options.
- Covers up to 60% of your income from disease and injury.
- The policy remains in place even with a job change.
- Customers can choose the maximum benefits that suit them.
- Low-cost premiums are deducted from the salary directly.
- Pregnancies and mental illness grant full disability coverage.
Allstate Corporation is a reliable insurance provider with excellent coverage. It includes pregnancies and mental health insurance for conditions that may have not been present when taking out the policy.
Founded in 1848, Unum is one of the leading group disability insurers in both the U.S. and the U.K. It covers both long-term and short-term disabilities, such as accidental injuries, critical illnesses, and hospital insurance.
Unum has its headquarters in Chattanooga, Tennessee.
- Highly rated group disability insurance in both the U.S. and the U.K.
- Both short- and long-term disability cover.
- Covers accidental injury, critical illness, and hospitalization.
- Highly ranked as a Fortune 500 company.
Unum has a commendable customer support service. It claims it covers employees in nearly 32% of Fortune 500 companies, as well as 80,000 employers globally. It comes with several riders that add flexibility to their plans.
Honorable Mention Disability Insurance
Breeze is an up and coming new player to the field of disability insurance, this is why they are not yet on our top 10 list, but they have some great benefits that we think are worthy of your time.
As of right now, Breeze is the only disability insurance company allowing you to get disability coverage ALL online. They have simplified the process making obtaining disability benefits available to anyone.
And better yet, the process to getting long term disability with Breeze takes about 15 minutes. Policies are available to people between the ages of 18 and 60, and they are renewable until you reach 67.
All of the Breeze Disability insurance policies are underwritten by Assurity Life Insurance, a reputable insurance company. This can give you confidence that your policy won’t fall flat due to a bad insurance company.
Disability Insurance By Age
A major factor in the cost of your disability insurance is your age. The younger that you are the less expensive disability insurance tends to be.
To get more information specifically on disability insurance for your age you can check out these articles:
Purchase Disability Insurance Today!
While there are so many ways you could injure yourself or fall ill, and be unable to generate an income, having disability insurance ensures you have a fallback for you and your family.
While you might be tempted to go for cheaper policies, sometimes third-party reviews and ratings will show it’s better to go with more reliable products.
Do the research before you determine how good a company is at settling their obligations before choosing a product that meets your needs.*While we make every effort to keep our site updated, please be aware that "timely" information on this page, such as quote estimates, or pertinent details about companies, may only be accurate as of its last edit day. Huntley Wealth & Insurance Services and its representatives do not give legal or tax advice. Please consult your own legal or tax adviser.