Best disability insurance companies

No matter how cautious we are about our health, unforeseen medical issues or accidents can affect anyone, regardless of age or lifestyle. These unexpected events, ranging from physical injuries to chronic illnesses or mental health challenges, can suddenly interrupt our ability to work and earn an income. Statistics suggest that a significant portion of the workforce may experience an extended period of absence due to health-related issues during their career.

While government programs like Social Security disability benefits can provide some financial support in these situations, they may not fully cover an individual's needs. This is where disability insurance becomes a valuable safeguard. Such policies can offer various forms of financial assistance, including regular monthly payments or a single lump sum, helping to bridge the gap between lost wages and ongoing expenses.

Many employers offer disability insurance as part of their benefits package. However, it's worth considering whether this coverage is sufficient for your personal circumstances. In some cases, purchasing additional individual disability insurance might be a prudent decision to ensure comprehensive protection against potential income loss due to health-related work absences. Start by getting a free disability insurance price quote here to see what it could cost you.

Best disability insurance companies

Here are some of the best disability insurance companies to consider, broken down into five categories.

• Best for cost: Breeze
• Best for long-term disability: Principal
• Best for high-risk policyholders: Mutual of Omaha
• Best for short waiting periods: Assurity
• Best overall: Guardian

Best for cost: Breeze

Breeze is a tech-forward disability insurance company that makes it easy to compare quotes and get good deals from different insurance carriers. Disability insurance coverage through Breeze can start as low as $9/month. Get a price quote from Breeze now to see what it could cost you.

Best for long-term disability: Principal

If you're looking for long-term disability insurance, Principal is a highly regarded provider that makes it easy to get long-term disability quotes. Depending on your occupational risk, you can potentially get a disability insurance plan that covers you until age 65. The company also offers another type of coverage that can help you save for retirement in the event you become disabled during your working years. Learn more about long-term disability insurance with Principal here.

Best for high-risk policyholders: Mutual of Omaha

Working a physically demanding job can sometimes make it hard to find good disability insurance, but Mutual of Omaha is one of the best providers for high-risk policyholders. The company has a range of options for a variety of professions, such as doctors, electricians, construction workers and more. The insurer also offers many different types of riders that can help you customize your coverage.

Best for short waiting periods: Assurity

If you want your disability insurance benefits to kick in quickly, one of the best providers to consider is Assurity. For some of its short-term policies, like accident-only income protection, coverage can kick in with no waiting periods. For long-term insurance policies, you can choose from different elimination periods, starting at 30 days.

Best overall: Guardian

Guardian is a major insurer with strong financial ratings, and it offers a wide range of coverage. In addition to offering many other types of insurance, like life insurance and dental insurance, Guardian has both short-term and long-term disability policies, as well as plans for individuals and employers. The company offers coverage to many different types of workers, such as medical professionals and physical laborers, making it a good overall choice.

The bottom line

Choosing among these best disability insurance companies can help you reduce the risk of missing out on important income due to an accident or illness. However, keep in mind that what's best for one person isn't necessarily what's best for everyone else. So, if you're interested in getting disability insurance, it's good to compare providers and see which ones have the right mix of features and costs for your situation. Start by reviewing your disability insurance options here today.