U.S. Consumers Need a Disability Impact Reality Check: LIMRA

May 7, 2020 | By Allison Bell – ThinkAdvisor

Many told a survey team that they thought the only way to get disability coverage was through an employer.

Consumers' Proposed Paycheck Substitutes
Here’s how many survey participants told LIMRA and Life Happens they would use some
suggested financial options to cope with the financial effects of a disability.
(Credit: LIMRA and Life Happens.)

LIMRA is participating in Disability Insurance Awareness Month 2020 by releasing a new disability awareness fact sheet — and a batch of data from a survey it conducted with Life Happens.

Life Happens, the Council for Disability Awareness and other organizations organize the annual awareness month campaigns to try to remind Americans that the ability to earn a paycheck is the most valuable asset that most of them have.

The LIMRA Disability Insurance Awareness Month fact sheet is available here.

LIMRA and Life Happens have joined to field the 2020 Insurance Barometer Study survey.

At one point, the participants were asked how they’d cope, financially, with a loss of the ability to work due to illness or injury.

(Read more…)