When we think about protecting ourselves and our families, we think about locking our doors, buying a safe car, exercising or even wearing sunscreen. But do we think about protecting our incomes?

An April 2015 omnibus survey commissioned by Anthem, Inc. found that 90 percent of respondents say they lock their doors and windows — but only 40 percent of Americans have disability insurance, which could protect them financially if they were unable to work. And according to a 2012 FBI report, the risk of a home robbery is one in 36, but people still think they’re more likely to be robbed than become disabled.

Unfortunately, more than one in four of today’s 20-year-olds will become disabled before they retire, per statistics from the Council for Disability Awareness.

disability insuranceMay is Disability Insurance Awareness Month. For employers, it’s a good time to remind employees about the importance of disability coverage. Most people think of workplace injuries or accidents when they think of disability, but the reality is that 90 percent of disabilities are caused by illness, such as arthritis, chronic back pain or cancer.

For this reason, employers should also consider integrating disability and medical benefits to help employees get back to work sooner and control the costs of absenteeism. More than 80 percent of employers using integrated benefits agree that this approach is valuable to both employees and employers, according to an August 2015 study by Employee Benefit News.

Disability insurance can be a big help to your workers and to your bottom line, so be sure to ask your insurance carrier during your next renewal to see if you should offer coverage to your employees.

Jason Kinzy is a marketing manager at Anthem, Inc. and is responsible for the promotion of Anthem’s specialty business (dental, vision, voluntary, life and disability plans) to members, employers and brokers. He has 20 years of health care marketing communications experience.

Sources

  1. Witters, Dan and Liu, Diana. “In U.S., Poor Health Tied to Big Losses for All Job Types.” Gallup. 7 May 2013.
  2. Yassin, Abdiaziz S. “Cost of Lost Work and Bed Days for US Workers in Private Industry—National Health Interview Survey, 2003.” Journal of Occupational and Environmental Medicine. July 2007.
  3. Centers for Disease Control and Prevention. N.d.