CHATTANOOGA, Tenn.--(BUSINESS WIRE)--
Millions of working women will celebrate Mother’s Day this weekend with
a new baby cradled in their arms, but only 10 percent of these women
will be receiving maternity benefits through short term disability leave.
The U.S. Census Bureau estimates that about 4 million babies are born
each year, with two-thirds born to mothers in the workforce. About half
of working mothers will have some form of paid maternity leave that may
include use of vacation or sick time, but more than 40 percent of new
working mothers won’t receive paid leave.
Short term disability benefits enable working mothers to enjoy paid
leave, but the coverage is only used in about 10 percent of maternity
leaves, according to the Census Bureau.
As a leading provider of group disability benefits in the U.S., Unum
(NYSE: UNM) sees a significant number of maternity claims. Nearly 28
percent of its group short term disability claims are maternity-related.
For the youngest generation in the workforce, maternity claims represent
64 percent of short term disability requests.
Unum’s claims experience and benefits research points to some important
trends:
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Over the past 10 years, the average age of Unum’s maternity customers
has increased from 30.9 to just over 31.5. (The national average age
of all first-time mothers – working or not – is 26 years, as reported
by the Centers for Disease Control.)
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Paid leave covered by short term disability averages six to seven
weeks. New mothers may take additional unpaid leave as available under
the provisions of the Family and Medical Leave Act.
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Just 26 percent of working women are enrolled in a short term
disability plan at work, according to a national survey that Unum
recently conducted with a sample of American workers.
“We see firsthand the importance of this benefit to working women,” said
Andy Gibson, vice president of short term disability for Unum. “The
reality is, however, most working women aren’t protected by short term
disability coverage and this can leave their families exposed to
financial risk as they step away from work to care for a newborn.”
When polled in December 2014 by an independent national research firm
for Unum’s annual study of US workers, half of working women (50%) said
they were not confident they have enough savings to cover a period of
time out of work.
“Short term disability insurance provides a new mom the financial
security she needs so she can focus on her new baby, her recovery and
returning to work,” said Gibson.
ABOUT UNUM
Unum
is a leading provider of financial protection benefits through the
workplace. The disability insurance leader in the U.S. for 38 years,
Unum’s portfolio of financial protection products also includes life,
accident and critical illness, which help protect millions of working
people and their families in the event of an illness or injury. In 2014,
Unum paid $5.6 billion in benefits to more than 525,000 individuals and
their families.
For more information, visit us at www.unum.com
or connect with us on Facebook,
Twitter
and LinkedIn.
Unum
Dawn McAbee, 423-294-1892
Toll free: 866-850-8686
dmcabee@unum.com
Source: Unum