Close Close
ThinkAdvisor

Life Health > Health Insurance > Life Insurance Strategies

Workers Shun Complicated Disability Materials

X
Your article was successfully shared with the contacts you provided.

Many U.S. workers say they are too confused about disability insurance to buy the product.

Researchers at Hartford Financial Services Group Inc., Hartford, have published figures supporting that conclusion in a summary of results from a recent survey of 971 U.S. adults ages 18 to 64.

About 76% of the participants said they understand that they are more likely to suffer an injury or illness lasting for 3 months to 6 months than they are to win the lottery – but 24% said they believe they are more likely to win the lottery.

About half of the participants lacked short-term disability insurance, long-term disability insurance or both.

Although 70% gave cost or their own good health as reasons for not buying disability insurance, 22% said they did not believe they knew enough about the product to buy it, and 10% said they were barely aware or not at all aware of disability insurance.

Only 6% said talking or thinking about topics such as illness or death was their least favorite aspect of benefits enrollment, while 38% said “reading benefits material” was their least favorite part.