The number of employers offering disability income insurance is on the rise, according to new research.
Prudential Financial discloses this finding in “Disability Insurance: Beyond Paycheck Protection.” Conducted on Prudential’s behalf by MRops and Oxygen Research, the study comprises three surveys: one of employers, a second of employees and a third of group employee benefits brokers.
The study reveals that 67 percent of employees say they own a disability income insurance policy (short- or long-term, individual or group coverage). That leaves one-third of employees without insurance coverage.
More than seven in 10 of the survey respondents (72 percent) identify “making ends meet” as a very important financial priority. This compares with 56 percent who flag “financial security if a wage earner can no longer work due to a disability or serious illness.”