American workers covered by this type of coverage remain satisfied with what it provides.
Millions of Americans are currently covered by disability insurance, providing them with protection against the loss of income they would otherwise face due to being unable to work because of an illness or injury.
This coverage makes sure that policyholders will continue to have an income during these extended periods.
A recent AHIP survey found that people who have disability insurance are highly satisfied with their coverage and what it provides. They indicated that they are extremely satisfied with the financial peace of mind that having it provides.
“Disability income insurance helps disabled working Americans and their families keep a roof over their head and food on the table,” said AHIP Executive Vice President of Policy and Strategy Jeanette Thornton. “It protects long-term financial stability by ensuring people don’t have to make damaging financial decisions.”
More than 90 percent of the survey respondents reported being satisfied with their disability insurance.
The AHIP survey findings also included that 86 percent of respondents felt that their disability insurance is a valuable investment and that it provides them with financial protection. Another 84 percent of respondents said that their disability insurance payments provided them with peace of mind during times when they were disabled and would otherwise not receive work income.
Of the respondents, 69 percent said that without their coverage, they would experience financial hardships if they were to have been unable to work due to injury or illness. Similarly, over half – 51 percent – of the survey respondents said that without their coverage, they would have been unable to afford their basic living expenses in the case that they were to become disabled from injury or illness.
More than 90 percent of the respondents to the AHIP survey said that they were in favor of establishing paid leave programs. Another 80 percent of the respondents said that they would like to see private disability insurance companies playing an active role in offering and managing that type of program.
“In addition to financial protection, disability income insurance providers are uniquely positioned to help ill or injured employees regain their ability to go back to work,” explained Thornton. “That’s why disability income insurance is the right choice for millions of Americans.”
