Typically, if you get sick you go to the doctor, and often that’s covered by health insurance. If you get into a car accident, you likely have auto insurance company to handle those expenses. But what if your illness put you out of a job, or the car accident caused an injury which prevented you from going back to work?
Most people need to work to pay the bills and even a short time out of work would create a severe financial hardship. A salary is one of the primary reasons someone accepts and keeps a job. Disability insurance protects that income.
Why Are So Many Uninsured for Disability?
Disability insurance seems like a no brainer, yet more than half the workforce in the U.S. is without private disability insurance and about two-thirds of the American working population have no long term coverage.
Based on a 2014 Disability Awareness Study:
- One-third of working Americans would consider buying disability insurance if they knew more about it
- 41% would consider buying it if it were less expensive–but perceptions about costs vary considerably
May is Disability Insurance Awareness Month
The problem seems to be that many Americans lack the knowledge they need to make an informed decision about disability insurance. That is why we are proud to join forces with insurers, adjacent businesses, agents, brokers, employers and industry organizations to remind the American public about the risk of income interruption, the consequences of being unprepared, and the importance and value of disability insurance.
Disability Insurance: An Attractive Benefit from Employers
As an employer looking for quality employees, disability insurance is a great option. It offers your employees the chance to protect the number one thing they come to work for–their paycheck. In addition, increased benefit choices can increase employee loyalty to the employer.
- About 75% of employees consider benefits extremely important
- Roughly 80% of employees say benefits provide peace of mind