New consumer poll spotlights prevalence of missed work and financial
strain
CHATTANOOGA, Tenn.--(BUSINESS WIRE)--
Claims data and new consumer research from Unum
(NYSE: UNM), a leading provider of employee benefits and income
protection, spotlights the prevalence of cardiovascular disease. This
information coincides with American Heart Month, an annual health
initiative from the American
Heart Association to raise awareness of cardiovascular disease, the
leading global cause of death.
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Unum data shows the prevalence and financial strain of cardiovascular events on U.S. workers.(Photo: Business Wire)
According to a poll commissioned by Unum in January 2018 among 1,232
U.S. adults, nearly 30 percent of respondents had or knew someone who
had experienced a cardiovascular event in the previous five years. Of
those who had or knew someone with a cardiovascular event, 59 percent
missed work, with 33 percent absent for four or more months.
A heart attack can interrupt an individual’s ability to work for months,
or even years. Long
term disability insurance helps to replace a portion of income to
help cover living expenses. Based on claims filed in 2017,
cardiovascular claims were the fourth most common within Unum’s fully
insured, long term disability block.
With the rise in high deductible health plans and the widening gap
between covered conditions and out of pocket costs, the financial strain
on a family following an illness can be significant. According to the
January consumer poll, nearly half (49 percent) of respondents had
$1,000 or less in savings. In the event they were unable to earn an
income, 63 percent of those polled could only pay bills for three months
or less before needing additional financial support.
To help further protect their financial stability, many working adults
also opt for Critical
Illness insurance, which pays a lump-sum benefit directly to a
person should they experience a serious illness, such as a heart attack.
Unum internal data for the period of 2012-2016 revealed cardiovascular
issues accounted for 29% of all critical illness claims, making
heart-related conditions the second most frequent condition, following
cancer (52 percent). The highest percentage of cardiovascular claims (47
percent) were from adults ages 50-59, and most cardiovascular claimants
(63 percent) were men.
According to the American Heart Association, heart disease is the
leading cause of death in the United States. About 2,300 Americans die
of heart disease each day, an average of one death every 38 seconds.
Cardiovascular disease, including heart disease and stroke, remains the
leading global cause of death with more than 17.9 million deaths each
year. That number is expected to rise to more than 23.6 million by 2030.
ABOUT UNUM GROUP
Unum Group (www.unum.com)
is a leading provider of financial protection benefits in the United
States and the United Kingdom. Its primary businesses are Unum US,
Colonial Life, and Unum UK. Unum’s portfolio includes disability, life,
accident and critical illness, dental and vision coverage, which help
protect millions of working people and their families in the event of an
illness or injury. Unum also provides stop-loss coverage to help
self-insured employers protect against unanticipated medical costs. The
company reported revenues of $11 billion in 2016, and provided $6.9
billion in benefits. For more information, connect with us on Facebook,
Twitter
and LinkedIn.
View source version on businesswire.com: http://www.businesswire.com/news/home/20180208005757/en/
Unum Group
Brad Carmony, 423-294-5238
bcarmony@unum.com
Source: Unum Group