posted by AHIP
on May 15, 2019
Satisfaction with private disability income protection coverage remains as high as ever. That’s according to a new survey commissioned by America’s Health Insurance Plans (AHIP) that found 90% of claimants reported being satisfied with their disability income coverage. At least 8 of 10 claimants were satisfied with their interactions with their insurance providers, including promptness of benefits payment and overall communication.
Private disability income protection coverage helps working Americans protect themselves and their families against the financial risk of work disability. Disability income coverage pays benefits when a covered employee is off the job for an extended period due to illness or injury. Unfortunately, more than 1 in 4 of today’s 20-year-olds will be hit with a disabling illness or injury and be off the job for a year or more before normal retirement age.
Private disability income protection is key,” said Winthrop Cashdollar, Executive Director of Product Policy for AHIP. “Although Social Security Disability Insurance and Workers’ Compensation can help some disabled workers, too often these programs don’t apply or don’t pay enough for a family to make ends meet.
Workers’ Compensation pays disability income benefits only when a disabling condition is directly work-related. And applicants for Social Security disability benefits often wait months—or even years—to receive benefits if they eventually qualify. And Social Security disability benefits can be modest. The average monthly benefit for a disabled worker was $1,235 in March 2019.
Illnesses and accidents do happen, and disability income coverage empowers Americans to continue living the life they’ve built while focusing on the treatment and care they need to get better and back to work.