disability in the era of the consumer - council for disability awareness - new england claims assn
TRANSCRIPT
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Disability in the Era of the Consumer
Carol Harnett President The Council for Disability Awareness
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• Facts Don’t Change Behavior § But, sometimes, you need them
• At least, to make insurance industry folks feel comfortable
• Make it Personal § The messy reality of people’s lives
• The Future § From statistics to stories
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Medical
70% Retirement
64% Life
57% STD
40% LTD
33%
Private Sector Employees With Access to Employer-Sponsored Benefits
U.S. Department of Labor Bureau of Labor Statistics, Employee Benefits Survey, March 2013
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More working consumers aware of their potential to be out of work, but . . .
50% 59%
31%
59% 68%
45%
Aware of risk of income loss
Aware of ways to plan for income
loss
Have already planned for an
income loss
2010 2014
Source: CDA survey of working consumers, May 2014
percent of wage earners believe they have a
percent or less chance of being disabled for
months or more.
The actual odds?
64 2
3
Many consumers don’t think they need disability insurance. However …
In a given year, about 26% of adults are diagnosed with one or more metal disorders
www2.nami.org
http://www.alz.org/alzheimers_disease_early_onset.asp
More than 35 million Americans are living with some form of lung disease
www.lung.org
Almost as many people (34 million) have digestive disorders
http://www.healthguidance.org/entry/6328/1/Digestive-Diseases-The-Facts.html Image via flickr.com/photos/darcyadelaide/
Many consumers don’t think they need disability insurance. However …
70,000
source: www.cancer.gov/types/aya
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T H E U N M E N T I O N A B L E S
• Caregiving
• Financial Difficulties
• Relationship Issues
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Buffers • Social Support
• Spirituality
• Exercise
T H E U N M E N T I O N A B L E S
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Magnifiers • Sleep Issues
• Feeling Sad or Down
• Substance Use
T H E U N M E N T I O N A B L E S
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Now
Employer
Insurance Company
Employee
Agent/ Broker/
Consultant
Financial Advisor
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Now Near-Term Future
Employee/ Consumer
Insurance Company/
Private Exchange
Financial Advisor
Agent/ Broker/
Consultant
Employer
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Opportunities • Millennials
§ 13% have disability insurance compared with 37% of 30-49 year olds*
• Singles § Majority of American adults (50.2%) are single –
first time since BLS began recording this data § Tend to be more self-reliant**
• Changing How We Tell the Story
A N O P P O R T U N I T Y F O R A D V I S O R S
* Source: Dan Kadlec, Why Millenials Resist Any Kind of Insurance, Money, 8/27/2014. Accessed on 9/14/2014: http://time.com/money/3178364/millennials-insurance-why-resist-coverage/
** Source: The Most Popular Lifestyle in America: The single paradigm shift. Examiner, 9/10/2014. Accessed on 9/14/2014: http://www.examiner.com/article/the-most-popular-lifestyle-america-the-single-paradigm-shift
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• Sprained ankles
• Back pain
• Digestive problems
Disability is About Inconvenient Times
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• Cancer
• Depression and Anxiety
• Heart Attack
• Stroke
Disability is About Concerning Times
How do we earn consumer’s attention? • Content that speaks to their concerns
• Caregiving • Financial Difficulties • Relationship Issues
• Research that resonates with them personally • Social media outreach and community building • Messaging they understand