Plain-English definitions for the terms you'll encounter on your financial journey.
Insurance that replaces a portion of your income if you become unable to work due to an illness or injury.
The frequency or likelihood of illness or injury in a specific population, used to calculate costs for health and disability insurance.
A federal program that provides monthly income to individuals who are unable to work due to a significant medical impairment that is expected to last at least one year or result in death.
A federal program that provides monthly financial assistance to individuals who have a disability that prevents them from working and who have earned enough work credits through prior employment.
Social Security Disability Insurance is a federal program that pays monthly benefits to people who have worked long enough to earn coverage but are now unable to work due to a significant, long-term medical condition.