Do your employees understand the importance of ensuring that they receive a portion of their income in the event they become disabled? The likelihood of a disability is greater than most employees realize. Consider these recent statistics pulled from the 2009 Milliman, Inc. survey, The Impact of Disability, and a 2007 Social Security Administration fact sheet:
The need for disability coverage is clear. Are you meeting the requirements of today’s diverse workforce?
Got a Comp or Benefits Question? Get a personalized answer within 1 business day with BLR's all-you-need-in-one-place website, Compensation.BLR.com®. Get a free special report just for trying the site. The report is yours to keep regardless of your decision on the program. Read more.
Are You Protecting Your Employees' Most Valuable Asset?
When your employees think of their most important assets, it's easy for them to forget that their income may be the one that needs protection the most. In fact, a study done by Harris Interactive showed that only 5 percent of Baby Boomers realize they have a one-in-three chance of becoming disabled during their working years. Missed time at work can mean lost income. Common causes of disability absence include:
In fact, a study done by Unum in 2008 showed that the average age of an individual filing a disability claim with Unum was 45.
Are You Paying Your Workers Too Much? Just like home prices, pay rates differ by location. So if you're going by national averages, you may be paying too much ... or too little. Find out in your state's edition of BLR's Employee Compensation in Your State program. Updates, salary and benefits survey results, and newsletters all included! Yours to try at no cost for 30 days! Read More
For years, BLR® has surveyed employers about their benefits to find out what HR and benefits professionals had seen in the preceding year and what they were expecting in the coming year. This year, we are expanding that program by conducting a series of brief, targeted benefits surveys. The findings of these surveys will be analyzed and presented free to all respondents.
Today's Topic: Disability and Group Insurance Plans
Take this brief survey and see how your existing practices and future plans stack up against the country’s most successful companies. The survey takes only a few minutes to complete, and it will help you stay on top of your industry and keep your company competitive.
Complete the Disability and Group Insurance Plans Survey Now
By sharing your insight, opinions, and experience, you’ll help us highlight trends and define benchmarks—by industry, geographic location, and size of employer—that will inform your decision making for the coming year.
At the same time, you'll gain a highly valuable strategic planning tool that will help ensure that your company is offering competitive benefits.
Please be assured that all responses are confidential and only aggregate findings will be published.
Thank you for your valued input. Robert Brady CEO, Business and Legal Resources (BLR)
P.S. Here are some upcoming employee benefits surveys:
Where do you stand on the subject of Disability and Group Insurance Plans? E-mail us at HRDailyAdvisor@blr.com with your opinion, or leave a comment on our website.
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