A large voluntary benefits seller says the products may help employer sponsors cut their workers’ compensation costs.
Disability insurance industry groups constantly fight the consumer perception that disability insurance and workers’ compensation are the same thing.
Aflac Inc. (NYSE:AFL) has come out with evidence that there may be some overlap in the claims.
Aflac commissioned an outside firm to survey 600 employers that offer voluntary accident insurance or voluntary disability insurance programs.
About 42 of those employers said providing access to the programs had cut workers’ comp claims.
Thirty-one percent of the employers that provided voluntary accident insurance said workers’ comp claims had fallen 25 percent or more.
Thirty percent of the employers that provided voluntary disability insurance said workers’ comp claims had fallen 25 percent or more.