disability in the era of the consumer - council for disability awareness - new england claims assn

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Disability in the Era of the Consumer

Carol Harnett President The Council for Disability Awareness

2 www.disabilitycanhappen.org

• 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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FACTS DON’T CHANGE BEHAVIOR


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

7 www.disabilitycanhappen.org Source: CDA survey of working consumers, May 2014


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

11 www.disabilitycanhappen.org Source: CDA survey of working consumers, May 2014


Source: CDA survey of working consumers, May 2014


Consumer Beliefs About Costs

percent of wage earners believe they have a

percent or less chance of being disabled for

months or more.

The actual odds?

64 2

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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


diagnostic

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THE MESSY REALITY OF PEOPLE’S LIVES


T H E U N M E N T I O N A B L E S

• Caregiving

• Financial Difficulties

• Relationship Issues


Buffers • Social Support

• Spirituality

• Exercise



Magnifiers • Sleep Issues

• Feeling Sad or Down

• Substance Use


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THE FUTURE OF THE CDA


Now

Employer

Insurance Company

Employee

Agent/ Broker/

Consultant

Financial Advisor


Now Near-Term Future

Employee/ Consumer

Insurance Company/

Private Exchange

Financial Advisor

Agent/ Broker/

Consultant

Employer


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


Disability is About Happy Times


• Sprained ankles

• Back pain

• Digestive problems

Disability is About Inconvenient Times


• Cancer

• Depression and Anxiety

• Heart Attack

• Stroke

Disability is About Concerning Times


Disability is Rarely About . . .

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


CDA Member Companies

disability in the era of the consumer - council for disability awareness - new england claims assn

Recruiting & HR

e n t i o n

substance use t h e

consumers dont

working consumers aware

disability insurance

employee benefits survey

income loss aware of

disability awareness