Disability Insurance Basics
What is the difference between group and individual disability insurance?
Group disability insurance is provided through an employer and is typically less comprehensive than individual disability insurance. Group policies often use an any-occupation definition and have limited benefit periods. Individual disability insurance is portable, uses own-occupation definitions, and provides more comprehensive coverage.
Key Points
- Group disability: provided through employer, less comprehensive
- Group: often uses any-occupation definition, limited benefit periods
- Individual disability: portable, own-occupation definition, more comprehensive
- Individual: more expensive than group but provides better protection
- An independent agent can help you evaluate group vs. individual disability insurance