My friend Jeremy Fink (of Assurity Employee Benefits) recently sent along the latest report from the Council for Disability Awareness on its 2011 survey regarding long-term disability (LTD) benefits.
The survey, of about 75% of the players in the LTD market, includes surprising information:
■ $8.3 billion was paid out in long-term disability claims (that's about a point higher than 2009)
■ About 587,000 disabled folks received LTD payments (up slightly over '09)
■ Fifty-six percent of participating carriers reported increased claim incidence from 2009 to 2010 (most suggested this was a result of the Obamaconomy)
■ Unfortunately, fewer employers even offered LTD benefits than in the recent past
■ The top cause of new claims, representing just shy of 30% of them, was for Musculoskeletal system and connective tissue diseases (which was also the top cause for existing claims)
[Click here for the complete report.]
Think you don't need disability insurance?
Think again:
The survey, of about 75% of the players in the LTD market, includes surprising information:
■ $8.3 billion was paid out in long-term disability claims (that's about a point higher than 2009)
■ About 587,000 disabled folks received LTD payments (up slightly over '09)
■ Fifty-six percent of participating carriers reported increased claim incidence from 2009 to 2010 (most suggested this was a result of the Obamaconomy)
■ Unfortunately, fewer employers even offered LTD benefits than in the recent past
■ The top cause of new claims, representing just shy of 30% of them, was for Musculoskeletal system and connective tissue diseases (which was also the top cause for existing claims)
[Click here for the complete report.]
Think you don't need disability insurance?
Think again:
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