NU Online News Service, May 7, 3:32 p.m. – Most employees rely solely on their employers for disability coverage, according to a new survey by the Million Dollar Round Table, Chicago.

MDRT, an association of life insurance and financial services professionals, surveyed 1,000 Americans and found that among working Americans who are eligible for disability insurance, 15% have no coverage and 35% are satisfied with the group policies offered by their employers. Another 7% did not know if they have disability coverage.

Nearly 20% said the main reason they didn’t buy a supplemental policy was because they thought it would be too costly. Another 16% said their company plan provided enough benefits to protect them.

Almost a third of those without individual coverage said they weren’t sure why.

MDRT found that the employees who received the least information about disability insurance from their employers were the ones most worried about the cost of individual coverage.

Nearly 40% of the respondents said their employer had provided adequate information about their group disability policy and individual supplemental needs. Forty-three percent of the well-informed respondents reported having an individual policy or supplemental coverage through a group policy.

Meanwhile, 22% of the respondents said their employers failed to provide any information about disability coverage. Only 23% of the poorly informed respondents said they owned individual or supplemental coverage.

The MDRT survey also uncovered widespread confusion about disability insurance basics.

Sixty-four percent of the respondents thought their major medical plan would provide disability benefits, and nearly one-third thought that disability insurance was the same as worker’s compensation insurance.