Helping Workers Protect Their Finances (NAPSA)—Having affordable insurance in place could help Americans who havelost their jobs protect their families’ financial well-being. However, a recent survey found that only 18 percent of respondents believed they would be able to afford their insurance for more than six monthsfollowing a layoff. The number drops to 14 percent when looking at respondents under the age of 45. Industry analysts say the findings point to an immediate need for alternate insurance programs. The survey questioned more Question:If you wereto lose your job, how long would you have access to affordable insurance? All SurveyParticipants 24% Six monthsor less More than six months 18% 22% | would not have access to affordable insurance 32% than 1,000 adults to determine the threat to Americans from limited access to affordable insurance in light of the current economic conditions. It was conducted by Affinion Group, a leading marketer of insurance services. Other findings include: At Risk of Being Uninsured When asked how long they believed they would haveaccess to affordable insurance, more than 50 percent of the respondents either believed that they would have access for less than six months or didn’t know how long they would have access to affordable insurance after losing a job. Accidents Are Costly Nearly half of respondents, 45 percent, believed that an out-ofpocket cost of as little as $500 would have a “severe” impact on their financial stability. This is problematic given that the average cost of hospitalization is $560, according to the Agency for Healthcare Research and Quality. Smart Solutions It seems people recognize the value of life insurance but may not understand all their options. 0% 5% 10% 15% 20% 25% 30% 35% Percentage of thase surveyed More than half of respondents were either “concerned” or “extremely concerned” that their loved ones would be financially vulnerable in the event of an accident or the death of the respondent. But many did not understand the cost savings an Accidental Death and Dismemberment (AD&D) plan mightoffer. A $100,000 AD&D plan may provide a savings of more than $75 over a typical $100,000 annual term life insurance policy. Affinion Group encourages con- sumers to work with a trusted financial institution, credit union or association to gain access to AD&Dprotection. It is typically offered on a group rate basis and underwritten by leading, highly rated insurers. For many, the plans present a viable alternative for coverage to protect against unforeseen events. For more information, visit www.affinion.com.
