New Survey Findings from the Council of Disability Awareness

Source: "2007 Disability Awareness Survey" April 2007, StrategyOne on behalf of The Council for Disability Awareness (www.disabilitycanhappen.org)

May is Disability Insurance Awareness Month

Disability Insurance Awareness Month (DIAM) is an industry-wide campaign designed to get American workers to think about the need to protect their greatest asset – their ability to earn an income. Most U.S. workers would face dire financial consequences if they were unable to work for an extended period of time due to a disabling illness or injury. Just 36% of all full-time employees have access to long-term disability insurance through their employers, and fewer than 6 million individual disability policies are in force in the U.S.

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The regulatory corner features an article by The National Association of Insurance Commissioners (NAIC). The NAIC recently conducted a detailed survey on consumer awareness for the need to purchase disability insurance. The startling results show the lack of awareness among the American public. JHA is reprinting this article in hopes that you may use some of their findings to support your efforts in selling disability insurance this month.

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Why More Is Less……Rate!

There’s a universal consensus among group Long Term Disability (LTD) underwriters that the quality of information received when quoting on new business has been deteriorating over the last few years. The focus of this article is not why underwriters are receiving less information when quoting, but how more accurate information may influence an underwriter’s decision and possibly affect the quote rate. This topic becomes even more important as producers and carriers delve into potentially unchartered industries and markets in an effort to increase the number of disability insurance consumers.

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