Employers Should Offer Disability Insurance Education, Insurer Says

05/18/2010

An employer's insurance offerings often reflect the kinds of coverage their workers enjoy.

With this in mind, one major life insurer has stressed the importance of offering disability income protection at a price consumers can afford. Eighty percent of respondents in a recent survey by the company said that a disability had a devastating or major effect on their financial stability, while 75 percent said it similarly impacted their lifestyle.

"The numbers are disturbing," Paul Taylor, vice president of group disability products for the insurer, said. "The vast majority of working Americans have not adequately protected one of their most important assets – the ability to earn an income."

Those with disability income protection were likelier to return to the same job after recovering from an injury, and had a significantly shorter recovery period. MetLife urged employers to promote wellness programs, offer information about disability insurance, and extend reintegration services.

Short- and long-term disability insurance protection offer varying waiting and benefit periods. Experts recommend that consumers purchase enough coverage to last until age 65, when Social Security protection becomes available.

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