A Cigna survey found that 52% of workers without disability insurance took more than two years to recover financially after a disabling injury or illness. The survey also found that 52% of people without disability insurance felt unprepared financially for their illness or injury, 40% worried about paying a mortgage…
Myths concerning disability insurance keep many people from purchasing it, says Leston Welsh of Prudential Group Insurance. Among these myths: People think they have little chance of becoming disabled; disability insurance is costly; and workers’ compensation and Social Security cover people if they become disabled. InsuranceNewsNet Magazine online
One in 4 workers are likely to experience a disability, but 69% lack disability-income insurance, a Northwestern Mutual survey found. About half of respondents said they would reduce expenses if a disability prevented them from working, while 35% said they would tap into their savings. BenefitsPro.com
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