Most of us take out insurance for what we consider our most prized assets – our homes, cars, and other valuable possessions. Not many of us realize, however, that our most important asset – the one that allows us to maintain our living standard and, therefore, needs protection the most – is our health. Disability insurance provides coverage for this vital asset.
In this article, Insurance Business gives you a rundown of the top 10 disability insurance companies in the US. We'll give an overview of how these policies work, and which demographic needs coverage most. If you’re looking for a plan that will best protect your client financially if circumstances take away their ability to work, this piece can serve as a useful guide.
This is a list of the 10 top disability insurance companies by market share in the US, and the market share percentages are from 2024 reports.
These companies typically offer standard policies:
There are also riders that are common with these insurers, so the products and add-ons listed below are unique to these companies. Market share figures are compiled by this website.
Market share: 16.8%
Founded in Chattanooga, Tennessee, Unum is the largest disability insurance provider in the United States. Its legacy dates to its founding as Union Mutual in 1848, and it became a pioneer in offering disability insurance products. Its merger with Provident Insurance in 1999 solidified its position as among the country’s leading disability insurance companies. Unum remains the top provider in North America, serving millions of workers and their families via group and individual policies.
Unum Group offers several notable disability insurance products, but they are not unique or exclusive to them. Unum is recognized for its comprehensive product portfolio and integration of disability benefits that include:
These plans supplement group coverage to protect higher earners with more income replacement. This is a common offering in the disability insurance market but part of Unum’s broad portfolio of products.
These are policies that can be employer- or employee-paid or shared. They are designed to work seamlessly together, so employees do not face gaps in income replacement when transitioning from short- to long-term disability coverage.
These are delivered through an advanced digital platform that helps employers manage employee leave and benefits efficiently, improving employee experience and return-to-work outcomes. This digital leave management solution is a distinct service enhancement that supports disability insurance. It is not a standalone product.
Market share: 9.0%
Founded in 1875 as the Prudential Friendly Society, the company quickly grew to become a major insurer by making life and disability insurance more affordable and accessible to working-class Americans.
Prudential began offering disability insurance in the US in 1912, expanding its product line beyond life insurance to provide income protection for disabled workers.
Since introducing disability insurance over a century ago, Prudential has developed a strong reputation for group and individual disability products, serving millions of policyholders with comprehensive coverage and innovative benefits.
Apart from the standard disability insurance policies, Prudential Financial has at least one unique disability insurance product, its OneLeave platform. This integrates absence and disability management into a streamlined experience for both employers and employees. This solution stands out in the industry for several reasons:
OneLeave combines Prudential’s disability insurance claims with paid leave and other absence management programs into a single easily navigable system. This provides a single claim number and a single point of contact for all leave types.
The platform gives employees real-time updates on their leave status through online, phone, or text updates and access, along with proactive support. The support is provided by vocational rehab specialists, return-to-work experts, physicians, and nurses to enable a smoother transition from recovery to return-to-work status.
With AI company EvolutionIQ, Prudential has integrated AI-driven claims guidance technology that can improve claims outcomes by enabling claims examiners to focus on cases that need expert intervention. This speeds up claims decisions and enhances customer experience.
Prudential’s focus on improving disability claims and leave experience via a combination of technology, regulatory expertise, and personalized support is their top differentiator in the disability sector.
Market share: 6.5%
Coming third on the list of the top disability insurance companies in the US is Aflac Inc. The company started offering disability insurance products in the US shortly after it was founded in 1955. Originally, Aflac was called American Family Life Insurance Company of Columbus.
Initially focused on providing financial protection for medical issues, Aflac pioneered cancer insurance in 1958, quickly expanding its supplemental disability insurance offerings. The company became famous for selling policies primarily via employer-sponsored payroll deduction plans.
To date, it is the largest provider of supplemental insurance in the US. Aflac has since grown to protect over 50 million people worldwide with a broad range of supplemental disability and accident insurance products.
Aflac offers many of the standard disability coverage, as with the other disability insurers on this list. The standout disability insurance product that Aflac offers is its Aflac Value Rider. Here are some of the add-ons notable features:
Policyholders receive a payout of $1,000 every five consecutive years for keeping the STD policy and rider in force, regardless of whether a claim is filed or not. This loyalty reward can be paid up to five times over the life of the policy, making it a unique incentive for policyholders to maintain continuous coverage.
This means no underwriting questions for eligible employees, making access to disability coverage easier.
This provides benefits even if the disability is covered by workers’ compensation insurance, adding an extra layer of protection.
This waives premiums while the policyholder is disabled for a specified period.
This simplifies payment of premiums, making it more convenient for employees enrolled in Aflac Value Rider.
This pays for a partial income payment if the insured can still work, but not at full capacity.
Market share: 5.0%
Established in 1860 as the Germania Life Insurance Company, Guardian changed its name in 1918 and became a mutual company in 1925. Guardian Life first entered the disability insurance market in 1957 by expanding into employee benefits.
Its presence in individual disability insurance grew significantly after merging with Berkshire Life Insurance Company in 2001, which specializes in individual disability income.
Today, Guardian Life is one of the largest mutual disability insurance companies in the US and is famed for its strong financial stability and comprehensive offerings.
Guardian Life offers several unique and distinguishing disability insurance products and features in the US market that set it apart from many competitors. These include:
Guardian Life provides a two-year period of true own-occupation coverage, meaning if a policyholder is unable to perform their job during the first two years of disability, they receive benefits in full. After two years, coverage converts to a modified own-occupation definition for the remainder of the benefit period.
This hybrid approach offers enhanced protection early on, which is particularly valuable for professionals with specialized skills.
Guardian Life’s enhanced CAT rider offers up to 100 percent income replacement if the insured suffers a catastrophic disability, like a loss of sight, hearing, speech, or use of their limbs. This rider also includes a compound 3 percent cost-of-living adjustment (COLA), which can provide long-term inflation protection for severe disabilities.
Guardian Life pays full benefits immediately without an elimination period if the policyholder suffers a presumptive disability, like a loss of sight in both eyes, or the loss of the use of two limbs. This can ensure rapid financial support in these extreme cases. Should the policyholder fall critically ill, it may be wise to consider a more appropriate policy.
With this benefit, Guardian Life considers policyholders admitted to qualified hospice programs as totally disabled and often waives the elimination period, allowing earlier benefit payments.
This is an optional rider that helps cover student loan payments during the disability benefit period.
Having early-career policyholders with significant student loan debt can find this particularly useful.
These riders let policyholders increase their coverage without medical underwriting, even as their income grows. FIO and COLA riders also adjust their benefits every year to keep pace with inflation.
Guardian Life offers the option to suspend premiums if a policyholder becomes unemployed, without cancelling the policy. However, coverage is also suspended during their unemployment. This feature provides flexibility for policyholders if they ever find themselves unemployed or going through a career transition.
Guardian Life guarantees that policies remain in force if premiums are paid. This feature also means the company cannot change the terms or increase the premiums arbitrarily.
Tailored for high-earning professionals, this policy offers true own-occupation coverage with residual and partial disability benefits, supporting gradual return-to-work scenarios.
Market share: 4.8%
The Massachusetts Mutual Life Insurance Company or MassMutual began offering disability income insurance policies in 1965. This was an expansion of its longstanding commitment to financial protection that began in line with its founding in 1851.
As a mutual insurer, MassMutual has focused on providing customizable disability insurance policies, including true own-occupation insurance. These products are targeted at professionals and high-income earners. Since then, MassMutual has built a reputation for financial strength, policy flexibility, and for consistently paying dividends to investors.
Apart from the standard disability policies, MassMutual has its own roster of unique disability insurance products and features, including:
This rider offers partial income replacement if the policyholder returns to work part-time or with limited capacity, providing income protection during the gradual recovery.
MassMutual’s Express DI program allows applicants under age 45 with certain income and occupational characteristics to apply with simplified underwriting.
Premiums are waived while collecting benefits, and if a new disability claim is related to a prior claim, the elimination period may be waived, so benefits payments are speeded up.
This is tailored for small business owners and help cover business expenses during disability or provide funds to buy out a disabled partner’s interest.
This rider helps replace retirement plan contributions if the policyholder becomes disabled, protecting their long-term financial goals.
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Market share: 4.5%
The Hartford was founded in 1810 and started out as a fire insurance company. It began offering disability protection as early as 1920, when it provided coverage for baseball legend Babe Ruth.
Over the decades, The Hartford has since become a leading provider of group long-term disability insurance, especially employer-sponsored plans. This company is famous for combining strong claims management with a commitment to helping injured workers return to work and continue to lead productive lives.
This disability insurer offers several products and features that stand out from the market, including:
The Hartford’s STD plans enable employees to customize their coverage based on their income protection needs. This can include varying benefits levels of 50 percent to 70 percent of their income, benefit periods of up to one year, and flexible start dates. This level of flexibility is better than most standard STD plans on the market.
The Hartford covers disabilities often excluded by other insurers. This can include:
Broad coverage is a distinct differentiator for The Hartford.
Policyholders with a disability can avail themselves of three face-to-face counseling sessions and unlimited telephone counseling. This mental health provision is relatively rare among disability insurance companies. The Hartford makes it a point to take a holistic, proactive approach to disability management.
The Hartford’s STD plans cover maternity leave when the employee cannot work due to a pregnancy-related disability, which is not universally covered by insurers.
In their long-term disability plans, employees can satisfy the elimination period by demonstrating a loss of job duties only, rather than complete inability to work. This broader definition helps employees qualify for benefits sooner.
The LTD plans offer income protection up to 67 percent and waives premiums while the insured is disabled. While this is standard, it is combined with other features to add more value for the policyholder.
Market share: 4.0%
Founded in 1879 as Bankers Life Insurance Company, Principal eventually transformed into a major provider of group and individual disability insurance. The company focuses on flexible policies with features such as true own-occupation coverage, customizable benefit periods, and riders tailored to professionals. Today, Principal is recognized for its strong financial stability and comprehensive disability income protection.
Here are some of Principal’s distinct disability insurance policies:
Principal guarantees that policies cannot be cancelled, or premiums increased before insureds reach age 65.
This rider automatically adjusts a policyholder’s monthly benefit during the first six years based on the Consumer Price Index (CPI). It offers a minimum 4 percent increase and a maximum of 10 percent, helping benefits keep pace with inflation without extra cost.
This allows policyholders to increase their maximum benefit every three years based on income growth, without additional underwriting.
Principal pays a minimum of 50 percent pre-disability income for the first six months if you are partially disabled, then proportionate income replacement thereafter.
This program from Principal pays disability benefits into an irrevocable trust that invests the funds as directed by the insured. The insured’s retirement assets can be further protected from depletion should they face a period of disability.
Market share: 3.8%
The Standard Insurance Company was founded in 1906 but only started offering disability insurance in 1952, shortly after changing its name from Oregon Life Insurance Company. Standard sold its first group disability policy in 1951, which remains in use today.
Over the years, The Standard has grown into a nationally recognized provider of group and individual disability insurance. The insurer is also known for its strong financial ratings and commitment to helping both employees and employers manage disability risks. It is one of the top disability insurance companies in the US.
Apart from disability products that are common with other insurers, The Standard has some products that are distinct from its rival insurers. Here are some of their unique features and offerings:
Unlike some insurers, Standard’s policies are guaranteed renewable up to age 67. Insureds can also purchase a non-cancellable rider. This rider prevents cancellation or premium increases if premiums are paid, regardless of the policyholder's changes in health, income, or occupation.
This is a group voluntary individual disability insurance plan. It offers no medical underwriting, portable coverage, identical rates for men and women, and coverage up to age 99. This GSI plan also covers income from bonuses, commissions, and other incentives, helping reduce coverage gaps for highly paid employees.
The Standard’s proactive approach to disability management includes clinical, vocational, and accommodations experts who can help create tailored return-to-work plans. They can also identify reasonable accommodation expenses (up to $25,000) to help employees stay or return to work.
The Standard offers counseling, work/life solutions, and personal health advocates to support employees and their family members during disability. This feature helps policyholders and their families address emotional, financial, and even legal challenges.
Market share: 2.5%
Assurity Life Insurance Company traces its roots back to 1890, where it was initially named as the Modern Woodmen Accident Association in Nebraska. It began offering disability insurance products early in its existence, focusing on accident and health coverage for its members.
As the years passed, Assurity grew via mergers with Security Financial Life and Lincoln Direct Life. The company officially changed to the Assurity name in 2007. Today, Assurity is a mutual insurance entity known for providing individual and group disability, with an emphasis on accessible, affordable protection and good customer service.
Assurity offers several products that are especially beneficial for middle-income earners, families, and self-employed individuals. Here are some of their products and product features:
Unlike many insurance companies that pay monthly benefits, Assurity pays disability benefits weekly. This enables policyholders to have more frequent income replacement and better cash flow.
Assurity’s short-term disability insurance features an online application with instant-decision underwriting. This doesn't require medical exam, health interview, and income verification paperwork for many cases.
Assurity pays 50 percent of benefits if the insured can only work part-time or reduced hours, helping bridge income gaps during partial recovery.
Assurity provides special benefits for business owners, including a 20 percent business owner discount, income enhancement options, and occupation upgrades. This feature is most attractive for small business owners.
Assurity does not require income verification for certain age groups and coverage amounts. This can make it easier for them to purchase disability insurance.
Assurity explicitly offers disability coverage options tailored to gig workers and self-employed individuals. Benefit amounts can be as much as $600 per week for self-employed or commissioned employees.
Check out this guide if you want to know the top health insurance providers to self-employed Americans.
Market share: 2.3%
Ameritas was founded in 1887 and incorporated as The Old Line Bankers Life Insurance Company of Nebraska. Shortly thereafter, it began offering disability insurance apart from its life insurance policies.
Over the years, Ameritas expanded by branching out from life insurance to diversifying its portfolio to provide disability income protection. It has become famous for its flexible, customizable individual disability insurance products.
Today, Ameritas provides a wide range of occupation disability insurance, including long-term income protection plans with varied benefit periods and elimination options. The company now serves millions of policyholders, focusing on professionals with a medical specialty, like dentists and physicians.
This company offers several unique features in its disability insurance products, particularly with its new DInamic Cornerstone Income Protection policy. This is a form of occupational disability insurance that is not commonly found in the market. Here are some of its features:
This product stands out by offering a one-time payment if a disability prevents an individual from earning an income, rather than traditional monthly payments. It also boasts of a no-elimination period for total disability coverage, making it a suitable offering for middle-income earners, self-employed workers, and homemakers.
This rider helps cover student loan debt payments if a disability prevents someone from earning an income. It provides up to a $2,500 monthly benefit for student loans.
Ameritas’ DInamic Cornerstone product offers coverage for these conditions up to the maximum benefit period. This can be more extensive than many other policies that typically limit or exclude coverage for these conditions.
Ameritas provides true-own specialty disability insurance, ensuring full benefits if a disability prevents practice in a specific medical or dental specialty, even if the individual can work in another occupation. This specialized definition can be crucial for highly trained professionals who seek security that income disability protection can provide.
Ameritas offers discounts for using digital apps and policy delivery, streamlining the process for customers.
If your client has people depending on them financially, purchasing disability insurance can be worth it. Accidents and illnesses strike when least expected and can adversely impact your client's ability to earn a living. Having disability coverage can ease some of the financial strain of not being able to get their normal paycheck until they are physically able to work again.
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