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Disability Insurance Provides Critical Protection From Income Loss Due To Accident Or Illness

Humana encourages you to assess your coverage in May, which is National Disability Insurance Awareness Month


Thursday, May 14, 2009 10:55 am EDT



Public Company Information:


LOUISVILLE, Ky.--(BUSINESS WIRE)--There is perhaps no better time for people to assess whether they are adequately protected from income loss due to accident or illness than in May, which marks National Disability Insurance Awareness Month.

Unfortunately, many people mistakenly assume that they are covered in the event of accident or illness, according to Beth Bierbower, who oversees specialty benefits at Humana, one of the nation’s largest insurers.

“They think Social Security or workers’ compensation will take care of them if anything happens,” Bierbower explained. “In some cases, these programs will meet their needs, but in other cases they will not.”

Social Security coverage, for example, has a strict definition of disability. Also, eligibility and payments vary, depending on the employee’s work history. For its part, workers’ compensation covers only those accidents that happen on the job. Disability insurance can help fill in the gaps.

Having adequate protection is important. According to the U.S. Census Bureau, nearly one in five Americans will become disabled for four or more years before age 65. Even in the best of times, it can difficult to replace lost income. In the current economic climate – with savings rapidly eroding – it is even more challenging.

“Our ability to earn an income is really our most important asset,” Bierbower said. “When that’s gone or threatened, a person’s quality of life deteriorates quickly, and it can even result in financial ruin. Disability insurance provides an important safety net, especially in these turbulent times.”

Depending on the policy, disability insurance can cover 60 percent or more of your lost wages. Policies are affordable, typically costing less than $10 a month. Short-term, long-term and integrated policies are available.

In some cases, disability coverage is offered in the workplace. However, only about one in three businesses offer this benefit. Additionally, individual policies can be purchased through an independent agent. The worksite benefits are generally portable, meaning they can move with the employee as he or she changes jobs.

“Most people wouldn’t think about being without life insurance, but they’re forgoing disability insurance, which is equally important when it comes to protecting the financial futures of themselves and their family members,” Bierbower said.

For more details about disability insurance, visit the disability health plan education site maintained by America’s Health Insurance Plans at www.yourincomeatrisk.org.

About Humana Specialty Benefits

Based in Green Bay, Wisc., Humana Specialty Benefits offerings include dental, life, vision, disability, accident, critical illness, supplemental health, health and productivity, and behavioral health insurance.

About Humana

Humana Inc., headquartered in Louisville, Ky., is one of the nation’s largest publicly traded health and supplemental benefits companies, with approximately 10.4 million medical members. Humana is a full-service benefits solutions company, offering a wide array of health and supplementary benefit plans for employer groups, government programs and individuals.

Over its 48-year history, Humana has consistently seized opportunities to meet changing customer needs. Today, the company is a leader in consumer engagement, providing guidance that leads to lower costs and a better health plan experience throughout its diversified customer portfolio.

More information regarding Humana is available to investors via the Investor Relations page of the company’s Web site at http://www.humana.com, including copies of:

  • Annual reports to stockholders
  • Securities and Exchange Commission filings
  • Most recent investor conference presentations
  • Quarterly earnings news releases
  • Replays of most recent earnings release conference calls
  • Calendar of events (includes upcoming earnings conference call dates and times, as well as planned interaction with research analysts and institutional investors)
  • Corporate Governance Information


Humana Corporate Communications
Doug Bennett Jr., 502-580-3625