According to new research from The Hartford, 49 percent of U.S. workers have short-term disability insurance and 44 percent have long-term disability insurance.
The findings show a significant drop, since last year’s survey, in the number of Americans with the coverage that provides an income if one cannot work due to an illness or non-work related injury.
Close to two million Americans have experienced a disabling illness or injury so far this year. Other surprising results of the study showed:
- 92 percent would need to make lifestyle changes if they lost part of their family income
- 75 percent base buying decisions on a fear of experiencing sudden financial hardship
- Only 25 percent of workers completely understand disability insurance