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Unum has released a new White Paper for the broker and employer audience, regarding the need for supplemental disability insurance coverage in the U.S.  Please feel free to share this document with Plan Administrators, in your upcoming stewardship meetings. Click below to download the full White Paper.
 
Two interesting statistics referenced in the Unum White Paper highlight how Americans are at risk in the event of a disability:
•    40% of Americans earning $100,000+ annually say they live paycheck to paycheck 1
•    25% of U.S. workers aged 20-50 are expected to become disabled before age 67 2

While long term disability (LTD) is an excellent foundation for income protection, benefit maximums, uncovered compensation, and taxable LTD benefits may leave higher income earners underinsured. For instance, 78% of employers say that their long term disability (LTD) plans don’t include coverage for bonuses or commissions.3

Unum’s Supplemental IDI coverage layered on group LTD can better protect the lifestyle that these employees have grown accustomed to, and greatly improves their chance of maintaining their financial goals.  
The shift in distribution channels to the employee benefit broker, Unum’s IDI guarantee issue program, advances in IDI enrollment technology and administration, and Employers’ focus on Financial Wellness initiatives have helped IDI become a mainstream employee benefit.  The opportunity is to tremendous!

In order to provide a proposal we simply need a copy of the existing LTD program with an updated census.  Please remember, Unum’s Supplemental IDI solution can be offered on a voluntary or employer paid basis, and with any carrier’s underlying Group LTD.
 
1 Lending Tree, “Survey: 44% of $100-149k Earners Live Paycheck to Paycheck” (Aug. 4,2015).
2 Social Security Administration, “Disability and Death Probability Tables for Insured Workers Born in 1994” (Dec. 2015).
3 SHRM, “2013 Employer Perspectives on Disability Benefits” (2013).

PDF-icon2SM Click here to download the full pdf document