Studying the role of disability insurance in the lives of workers
The Consumer Federation of America (CFA) and Unum released the results of a 2015 survey of more than 500 benefits decision-makers at small employers regarding their views on long term disability insurance (LTD). The findings reveal that employers, whether they offer the benefit or not, understand the value of this insurance for employees, and that those who offer it also believe it serves the interests of their company. Employers not offering LTD are more likely to overestimate the cost of this insurance, underestimate the desire of employees for this coverage, and to experience difficulty managing disabled employees and their absences.
The 2015 research is the third joint research effort by CFA and Unum. In April 2012, CFA and Unum asked working Americans about their financial safety net and their awareness and understanding of disability insurance.
In September 2013, CFA and Unum released a report based on interviews with individuals who had become disabled and were receiving disability benefits through their employer’s plan. More than 400 recipients of employer-sponsored disability benefits shared their stories with researchers – stories of unexpected injury or illness and the critical benefits that allowed them to pay the bills, keep their homes and support their families.
"In general, group disability insurance serves the interests of small employers and their employees," noted Stephen Brobeck, CFA’s Executive Director. "By making this insurance available, employers help protect the personal income needed by consumers."
Consumer Federation and America and Unum: Role of Disability Insurance for Small Employers (2015)
Consumer Federation of America and Unum, Employer-Sponsored Disability Insurance: The Beneficiary's Perspective (2013).
Consumer Federation of America and Unum, Employee Knowledge and Attitudes about Employer-Provided Disability Insurance (2012).