A majority of U.S. adults know nothing about personal incapacity insurance coverage, based on outcomes from a brand new on-line incapacity insurance coverage literacy survey commissioned by Policygenius, an online dealer that helps individuals get quotes for particular person incapacity insurance coverage on-line.
The contributors have been 2,353 U.S. adults ages 18 and older.
An out of doors survey agency introduced a a number of selection query with descriptions for personal incapacity insurance coverage, main medical insurance coverage, the federal government’s Social Safety incapacity insurance coverage program, accident insurance coverage and a number of other different forms of preparations.
Simply 36% of the survey contributors gave the proper reply and confirmed that they perceive that the product offers revenue for an individual who has develop into disabled, not a lump-sum fee when somebody suffers an harm, full fee for medical payments or one thing else.
What it means: In case you have failed to debate incapacity insurance coverage together with your purchasers, as a result of you don’t promote it or concern the purchasers will be unable to qualify for incapacity insurance coverage, likelihood is that they are going to do not know that non-public incapacity insurance coverage exists or how Social Safety incapacity insurance coverage works.