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Research by CFA and Unum shows workers know little about disability insurance, despite expecting financial hardship if unable to work

“In a national survey of nearly 1,200 employees, the Consumer Federation of America (CFA) and Unum learned that workers know little about group disability insurance, even important characteristics of what coverage they may have. But when given information about this financial protection benefit, nine out of 10 employees say they want this coverage and would pay for it. In the CFA-Unum survey, only 13 percent of all employees say they know “a lot” about this insurance, and less than half of those who say they have coverage know how much it costs (41%) or what its benefits are (47%). When given information about disability insurance, a very large majority (90%) say they want this coverage, and nearly as many (86%) say that, if required, they would pay half of a $30 monthly premium, with more than half (56%) saying they would pay all of this premium, to gain income protection.”

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