Despite a relatively rosy economic picture with low unemployment, a healthy stock market, and solid housing gains, many of the nation’s most compensated workers are often struggling. According to a 2018 poll of U.S. workers by employee benefits company Unum, 49 percent have less than $1,000 in savings and could only pay bills for about two months before needing additional assistance. Of those making more than $100,000 per year, 40 percent are living paycheck-to-paycheck.
This is worrying in many respects, but particularly so in the context of disability. When a household’s breadwinner can’t earn a paycheck, it may be difficult for a family to keep up with everyday expenses.
About Unum Group
Unum Group provides a broad portfolio of financial protection benefits and services through the workplace, and is the leading provider of disability income protection worldwide. Through its Unum US, Unum UK, Unum Poland, and Colonial Life businesses, the company provides disability, life, accident, critical illness, dental and vision benefits that protect millions of working people and their families. Unum also provides leave and absence management services that streamline the leave experience for employers and employees, and stop-loss coverage to help self-insured employers protect against medical costs. Unum reported revenues of $11.6 billion in 2018 and paid $7.2 billion in benefits.
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