Eighty-two percent of employers offered long-term disability insurance in 2013, up from 74% in 2012 and 85% offered short-term disability insurance, up from 77% in 2012. Employers are doing their part to offer valuable disability insurance. But, many employees are not taking action due to conflicting priorities and budgetary challenges. Thirty-three percent employees had no disability insurance, according to a Prudential study. The Council for Disability Awareness encourages consumers to do the following:
1. Complete an income/expense review: Get a clear picture of where your money is coming from and where it is going.
2. Look for ways to reduce spending.
3. Identify alternate sources of income, such as employer sick pay.
4. Maintain a healthy lifestyle, it is one of the best ways to avoid a disability.
5. Develop an action plan to put in place in case you are faced with a disability and update it annually.
For more information, visit www.prudential.com/benefitsmatter.
