National Survey shows, you can take it with you, but most pe

 

Tuesday, Mar 31,2009, 11:45:13 AM   Click:

Copyright: PR Newswire
Source: PR Newswire
Wordcount: 894

Study commissioned by MassMutual Financial Group believes Ignorant employees how to protect a portion of their income

SPRINGFIELD, Mass., March 30 / PRNewswire / - What do you take with you when you left your last job? A new Massachusetts Mutual Life Insurance Company (MassMutual) / Harris Interactive poll released today shows most Americans to take a surprising number of items ranging from office supplies, plants and even toilet paper, but in May they be the abandonment of one of the most important - their supplemental disability insurance.

Approximately one in four (27 percent) of American adults have taken something that does not belong to them leaving their jobs. Of these, the majority - over 75 percent - came out with office supplies, pens and pencils for staplers and calculators. But that's not all: 18 percent have been so far to take plants and flowers, and 14 percent have been such as furniture, paintings, chairs, desks and lamps. A surprising four per cent, even left with toilet paper. And many will spare no expense in taking clients (11 percent) and even business associates (7 percent) right with them.

While the study shows a significant number of Americans to pocket a large variety of non-essential items when they leave their employer, it also stresses that they do not take one of the most important things -- their disability insurance. Why should it matter? Purchase additional portable disability insurance is one thing families can do to help protect their ability to earn an income in case of accident, illness or injury, if it occurs at work or not. Portable additional disability insurance to ensure that its most precious asset - the ability to earn income - is safe.


Of the 2119 U.S. adults surveyed:

- Only 39 percent have some form of disability insurance, with only a quarter of it with portable supplemental disability. The majority (75 percent) in this group purchased coverage through their employers' group insurance plan, which is interrupted when their employment ends. - More than two thirds (72 percent) said they want to buy portable supplemental disability, and 61 percent said they want to buy to help pay their bills. - More than two thirds (69 percent) are at least somewhat likely to purchase additional portable disability insurance if it was offered at a discount of 25 per cent.

"The disconnect lies in the fact that nearly two thirds of adults do not know that disability income insurance purchased by the employer is portable. In other words, people can take insurance with them when they leave their jobs, "said Judith Bramson, Assistant Vice President for Health and Benefits Management Marketing, MassMutual. Without this cover, people leave their families and themselves exposed. Imagine the impact of absence monthly salary on household expenses and retirement savings, "she continued.

"As people flock to the safety and take personal responsibility for their financial health, they must consider the risk of not being able to work for a period of time," said Robert Taylor, president of the Council for disabled people in the market. "Unfortunately, the odds are against many of us, but fortunately there are ways to prepare before it happens."

So how can benefit managers and HR professionals learn more about portable supplemental disability?

Specialists in disability insurance to recommend MassMutual managers and human resource professionals:

- Raise awareness among key leaders of your society on the benefits of portable supplemental disability. - Gain new insights into the behavior of employees when they leave a job by taking the survey: www.MassMutual.com / TakeItWithYou, where you can also view the survey results. - Learn about portable additional disability insurance by contacting MassMutual.

About the Survey

The disability insurance Mobile survey was conducted by Harris Interactive on behalf of MassMutual. All data collection was conducted online within the United States between November 18 and 20 November 2008 among 2119 adults aged 18 +. Data were weighted to be representative of the U.S. adult population. For complete survey methodology, including weighting variables, please contact MassMutual.

About MassMutual Financial Group

MassMutual Financial Group is a marketing name for Massachusetts Mutual Life Insurance Company (MassMutual) and its affiliated companies and sales representatives. MassMutual and its subsidiaries had more than $ 360 billion in assets under management at the end of 2008. Assets under management include assets and certain external investment funds managed by MassMutual's subsidiaries.


Founded in 1851, is a MassMutual mutually owned financial protection, accumulation and income management company with headquarters in Springfield, Mass. MassMutual's principal subsidiaries include: OppenheimerFunds, Inc., Babson Capital Management LLC, Baring Asset Management Limited, Cornerstone Real Estate Advisers LLC; The First Mercantile Trust Company, MML Investors Services, Inc., member FINRA and SIPC (www.finra.org and www.sipc.org), MassMutual International LLC and The MassMutual Trust Company, FSB. For more information, visit: www.massmutual.com.

About Harris Interactive

Harris Interactive is a global leader in custom market research. With a long and rich history in multimodal research that is powered by our science and technology, we help clients achieve results. Harris Interactive serves clients globally through our North American, European and Asian offices and a network of independent market research. For more information, please visit www.harrisinteractive.com.

Contact: Paula Tremblay MassMutual ptremblay@massmutual.com 413-744-0885 Erin Vadala Warner Communications 978 468-3076 erin@warnerpr.com

SOURCE MassMutual Financial Group

CONTACT: Paula Tremblay, MassMutual, +1-413-744-0885, or ptremblay@massmutual.com, Erin Vadala, Warner Communications, +1-978-468-3076, erin@warnerpr.com



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