Disability Insurance Market by Coverage (Short Term Disability Coverages and Long Term Disability Coverages), Type (Individual Disability Insurance, Employer-Supplied Disability Insurance, Business Overhead Expense Disability Insurance, High-Limit Disability Insurance, and Others), and End User (Corporate Institutions, Government Organization, and Others): Global Opportunity Analysis and Industry Forecast, 2020–2027

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Disability Insurance Market Outlook - 2027

The global disability insurance market size is experiencing considerable growth, and is expected to grow as most labor workers prefer to claim for disability benefits associated with their work. Disability insurance or disability income insurance is a type of insurance that protects employment income of an insured individual. In addition, disability compensation covers a portion of an individual's wages at the time when they are not able to work, owing to critical illness, temporary, or permanent disability.


Disability Insurance Market scope and structure analysis:

   Market size available for years


  Base year considered


  Forecast period


  Forecast units

  Value ($)

  Segments covered

  Coverage, Type, End User, and Region

  Regions covered

North America (U.S. and Canada), Europe (Germany, UK, France, and rest of Europe), Asia-Pacific (China, Japan, India, and rest of Asia-Pacific), Latin America (Brazil, Mexico, and rest of LATAM) and Middle East & Africa

  Companies covered

Major players analyzed include Ameritas Life Insurance Corp, Assurity Group, Inc, Fidelity Security Group, The Guardian Life Insurance Company of America,MassMutual, MetLife, Inc., State Farm Mutual Automobile Insurance Company, and StanCorp Financial Group, Inc.


COVID-19 scenario analysis:

  • COVID-19 pandemic has a severe impact on the insurance industry. Lockdowns and business shutdowns have caused several workers to lose their jobs, owing to factory closures.
  • The unemployment rate remained high at all times, subsequently the life and disability benefit claims ratio has increased, owing to both jobs and health concerns globally. 
  • Moreover, serious unemployment has led employers and their disability insurance partners to bear substantial loss of working time costs of their employees, owing to closure of work places.

Top impacting factors: Market Scenario Analysis, Trends, Drivers, and Impact Analysis:

Increase in awareness among employees & workers to protect themselves against unexpected illnesses, rise in concern for stability in incomes, and health disabilities are some of the factors that fuel the disability insurance market growth. However, evolving government regulations, higher interest rates, and low penetration for disability insurance are some of the factors that limit the market growth. 

On the contrary, rise in awareness among citizens about disability insurance and conditions such as COVID-19 has accelerated awareness for disability insurance benefits, which are expected to provide lucrative opportunities for the disability insurance market in upcoming years.

The global disability insurance market trends are as follows:

Technology penetration into disability insurance platforms:

For instance, Principal, a leading insurance company, partnered with EIS Group, which is an insurance software technology provider, to integrate technology to transform disability insurance user experience in the disability insurance market. The partnership aimed at delivering new technological advancements, such as API-based functionality, which allows effective underwriting system and improves digital experiences among end users. Such customer-centric strategies help in developing offerings by reducing time period for filing claims and other activities of the disability insurance program.

Automated claims processing in disability insurance:

In November 2019, Standard Insurance Company collaborated with FastTrack Disability Risk Management Solutions & Services to develop effective solutions in claims handling process. In addition, the collaboration aimed at easing the claim processes for long-term disability category (LTD) claims, individual disability (IDI) claims, personal health claims, and community protection claims. The companies together developed a platform, which enhances process automation by utilizing automated data storage, robotic processing automation (RPA), and artificial intelligence (AI). 

Key segments covered:




  • Short Term Disability Coverage
  • Long Term Disability Coverage


  • Individual Disability Insurance
  • Employer-Supplied Disability Insurance
  • Business Overhead Expense Disability Insurance
  • High-Limit Disability Insurance
  • Other


   End user

  • Corporate Institututes
  • Government Organizations
  • Others


Key benefits of the report:

  • This study presents analytical depiction of the global disability insurance market size along with the current trends and future estimations to determine the imminent investment pockets.    
  • The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global disability insurance market share.     
  • The current disability insurance market is quantitatively analyzed from 2020 to 2027 to highlight the market growth scenario.         
  • Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.    
  • The report provides a detailed disability insurance market analysis based on the present and future competitive intensity of the market.
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