US life insurer Haven Life has launched a short term disability income insurance product.
Haven Disability, issued by Haven Life’s parent MassMutual, aims to provide coverage to those Americans who do not have short-term disability coverage through their employers.
It is particularly addressing middle and lower-income families to cover their most important monthly expenses, such as rent or mortgage payments, when an earner becomes too ill or injured to work.
John Latona, general manager of Haven Life, said: “One unfortunate reality of the pandemic was that many workers who contracted Covid-19 were uninsured or underinsured, which created a significant financial burden to their families.
“Haven Disability offers consumers an extra layer of income protection to help them better plan for an unexpected illness or injury that prevents them from working, so they can focus on their recovery instead of worrying about recurring expenses.”