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Life Health > Life Insurance

Disability Month: LIFE, CIGNA, Hartford

By Staff Writer

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The Life and Health Insurance Foundation for Education has unveiled a Lifetime Earnings Calculator tool in an effort to get consumers to think about income protection.

LIFE, Arlington, Va., has posted the calculator at http://www.lifehappens.org/earningscalculator

LIFE also released results from a recent survey of 1,007 U.S. adults.

Only 47% said they expect to earn a total of more than $1 million over the course of their careers, but census figures suggest 84% will earn more than $1 million, LIFE says.

LIFE commissioned survey and created the earnings calculator tool in connection with Disability Insurance Awareness Month, a disability insurance industry marketing campaign.

In related news:

- CIGNA Corp., Philadelphia, participated in the disability awareness month campaign by releasing results of a survey of 742 U.S. residents with full-time jobs.

When asked where they are most likely to turn for disability insurance advice, 43% identified their employers as the most likely source of advice, and 36% named a financial professional as the most likely source. Only 19% said the Internet was the most likely source.

About one-third of the participants knew that group disability coverage costs about $20 to $25 per month, but many thought disability coverage was much more expensive, CIGNA says.

- Hartford Financial Services Group Inc., Hartford, is donating 62 sport wheelchairs to the Rehabilitation Institute of Chicago for use by the city’s Paralympic Sport Club.

Hartford also helped organize the donation of more sport wheelchairs together with the U.S. Paralympics division of the U.S. Olympic Committee.

Hartford made the donation to support the disability awareness month campaign and support a local Paralympic event in Chicago held in connection with efforts to get Chicago chosen to be the host city for the 2016 Olympic and Paralympic games.

The Rehabilitation Institute will use the wheelchairs to start a youth sports program this summer, Hartford says.

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