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Individual Disability Income Insurance |
Employer-Sponsored Group Disability Plan |
Government and State Disability Programs1 |
| Amount of benefit available |
Based on current income and can range from $500 to $15,000 per month. |
Typically provides a fixed percentage of the employee's earned income, providing a higher benefit in the beginning, with benefits decreasing or ending after 6 months. |
Ranges based on pre-disability income level and age. Provides a small benefit for family members up to the family's maximum benefit. You must have between 6 and 40 credit quarters to be eligible. |
| If I qualify for Social Security, will my benefits be reduced? |
- Typically provides both fixed and offset coverage.
- Fixed benefits are level and cannot be reduced.
- Offset benefits are reduced dollar for dollar by money received from a government-sponsored program.
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Generally reduced by any funds received from a government-sponsored program. |
Not applicable. |
Tax status of benefits |
Income tax free when employee pays the premium. |
Taxable at ordinary income rates when employer pays the premium. |
Taxable at ordinary income rates. |
| Period before payments begin |
Variety of options available from 1 month to 24 months.2 |
Dependent on employer selected plan; typically 0 to 7 days. |
5 month waiting period before eligible to apply for benefits. |
| Length of time benefits will be paid |
Variety of options available from 6 months to age 65 or 70. |
Dependent on employer selected plan; typically ranges from 6 months to age 65. |
Disability benefits are paid until full retirement age is reached. At this time, Social Security Retirement benefits replace disability benefits. |
| Additional Optional Protection3 |
- Residual Disability Benefit
- Future Purchase Option Benefit Rider
- Indexed Disability Income Benefit Rider
- Regular Occupation Definition of Disability Rider
- Waiver of Premium Benefit
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Employer-sponsored group plans do not usually provide additional benefits other than straight income protection. |
Social Security does not provide additional benefits other than straight income protection and possible cost of living adjustments (based on current legislation). |
| Disability Income Insurance solutions from Thrivent Financial |
Thrivent Financial Individual Disability Income Insurance |
Not available through Thrivent Financial—may be available through your employer-sponsored benefit program. |
Not applicable. |
Product features may not be available in all states and may vary by age and occupation class.