Survey: Just 4 in 10 Employees Protecting Their Paychecks

Snapshot of disability coverage revealed in The Harris Poll –
OneAmerica^® findings

INDIANAPOLIS–(BUSINESS WIRE)–Roughly 4 in 10 working Americans (41%) report they have
employer-sponsored disability insurance coverage, according to a new
survey conducted online by The Harris Poll on behalf of OneAmerica^®.
However, less than one quarter of working Americans (24%) elect to have
voluntary disability insurance through their employer ─ where employees
have to pay for coverage themselves ─ leaving many without this key
paycheck protection.

This new survey of short-term or long-term disability insurance coverage
was conducted among 1,017 U.S. adults ages 18 and older who are employed
full-time or part-time.¹

Disability Insurance Awareness Month is observed annually in May.
OneAmerica uses the survey results to help educate consumers and to
challenge assumptions.

The Harris Poll-OneAmerica survey was conducted April 18-22, 2019.

Of the 64% of working Americans who report not having voluntary
disability coverage, just under half (47%) say it is because their
employer does not offer it; among them, nearly 3 in 5 (58%) say if their
employer was to offer it, they would be likely to purchase it.

“It is important to understand the current environment related to
employee disability coverage,” said Nathan Queen, OneAmerica regional
vice president, southern region. “Our snapshot affirms established
industry studies that too few employees elect or have access to
disability coverage, a benefit we believe to be a cornerstone of
financial well-being in their benefits package.”

Those who do not have voluntary disability coverage through their
employer cite the following as additional reasons for not selecting
coverage:

• Don’t see the value (14%)
• Other obligations or expenses they feel are higher priorities (11%)
• Can’t afford coverage (12%)
• They think they are healthy and don’t need it (12%)

A recent study by LIMRA and Life Happens looked at behaviors that
prevent workers from purchasing life insurance and related coverage,
such as disability.² LIMRA and Life Happens stated that
unless workers understand what it is, and more importantly why
they—personally—need it, they won’t be motivated to buy the coverage.

“Our goal is to further the dialogue about the value of disability
coverage, so all employees can understand that insuring their paycheck
is the catalyst to protecting everything else in their lives, including
their homes, their cars and their family,” Queen added.

OneAmerica focuses on the core financial wellness products of group life
and disability insurance. OneAmerica has recorded double-digit sales
growth in Employee Benefits for five consecutive years.

About OneAmerica^®

A national leader in the insurance and financial services marketplace
for more than 140 years, the companies of OneAmerica help customers
build and protect their financial futures. OneAmerica offers a variety
of products and services to serve the financial needs of their
policyholders and customers. These products include retirement plan
products and recordkeeping services, individual life insurance,
annuities, asset-based long-term care solutions and employee benefit
plan products. Products are issued and underwritten by the companies of
OneAmerica and distributed through a nationwide network of employees,
agents, brokers and other sources who are committed to providing value
to our customers. To learn more about our products, services and the
companies of OneAmerica, visit oneamerica.com/about-us/companies-of-oneamerica

OneAmerica^® is the marketing name for the companies of
OneAmerica. Products issued and underwritten by American United Life
Insurance Company® (AUL), Indianapolis, IN, a OneAmerica company.

Harris Insights & Analytics is not an affiliate of the companies of
OneAmerica.

¹ This survey was conducted online within the United States
by The Harris Poll on behalf of OneAmerica from April 18 – 22,
2019 among 1,017 U.S. adults ages 18 and older who are employed
full-time or part-time. This online survey is not based on a probability
sample and therefore no estimate of theoretical sampling error can be
calculated. For complete survey methodology, including weighting
variables and subgroup sample sizes, please contact Tom Spalding at
317-656-7644.

² The Insurance Barometer is an annual study that tracks the
perceptions, attitudes and behaviors of adult consumers in the United
States. In January 2019, LIMRA and Life Happens engaged an online panel
to survey adult consumers who are financial decision makers in their
households. The survey generated over 2,000 responses. Models used in
the sample development include a propensity model to adjust for sample
selection error, and weighting models to adjust for sample response
error. Read more: http://bit.ly/2019study

Contacts

Tom Spalding
Tom.spalding@oneamerica.com
317-656-7644