HARTFORD, Conn.--([ BUSINESS WIRE ])--More than half of Gen Y workers (ages 18-31) vastly overestimate the average cost of disability insurance purchased at work, and only one in three completely understand life insurance, according to new research by [ The Hartford ].
"Together with The Hartford, I hope to help Millennials plan ahead."
The Hartford today launched a national educational campaign featuring [ Gen Y author Lindsey Pollak ] to address misconceptions and raise awareness about disability and life insurance.
aOur research showed many young workers donat realize it can be easy and affordable to protect their income with insurance they get at work,a said [ Mike Fish ], vice president of voluntary benefits with The Hartford. aWe have partnered with Lindsey to inform Gen Yaers on how benefits can help them stay on track to reach their personal and professional goals.a
The Hartford Benefits For Tomorrow Study found less than half of Gen Y workers, also known as Millennials, have signed up for disability insurance. Yet, approximately 90 percent of Millennials said in the survey that they would have to change their lifestyle if they lost income for three to six months.
aThereas a tremendous opportunity to help this countryas 72.2 million Millennials understand the importance of investing today for their tomorrow,a said Pollak. aTogether with The Hartford, I hope to help Millennials plan ahead.a
As part of The Hartfordas My Tomorrow campaign, Pollak will share tips on navigating the areal world.a At events and a new website ([ www.thehartford.com/tomorrow ]), sheall cover finding and choosing the best job for you, making the right financial decisions for your life, and making the most out of your pay.
Pollak wants to hear what Millennials think about the future. They are invited to visit the [ website ] to share what they think about tomorrow.
aMillennials arenat the only ones facing new benefit choices. More and more employees are being asked to help pay for their benefits. That means at this yearas benefits enrollment, many employees will face more choices than ever before,a Fish said. aWe designed our awareness campaign with Lindsey and enhanced our online educational platform to help employees be better informed about their benefit selections.a
SurveyMethodology
The Hartford Benefits For Tomorrow Study was developed by The Hartford and fielded via online survey by BuzzBack in March 2012. The nationally representative sample consisted of 1,000 full-time U.S. workers, aged 18-64. The margin of error is +/- 3.1 percent for the national sample.
About Lindsey Pollak
Pollak is a best-selling author, keynote speaker and recognized consultant on next generation career and workplace trends.She has more than a decade of experience advising both young professionals and organizations on the changing world of workandis the author ofa[ Getting from College to Career: Your Essential Guide to Succeeding in the Real World ].a Pollakasadvice and opinions have appeared in such media outlets asThe New York Times, The Wall Street Journal, Glamour,CNN, NPR, and NBC Nightly News with Brian Williams. She appears on severalaBest People to Follow on Twittera lists, including [ Mashableas list of career experts to follow on Twitter ] and [ Marie Claireas 100 Twitters Every Woman Should Follow ]. Forbes recently named her website as one of the a[ Top 75 Websites for Your Career ].a
About The Hartford
The Hartford Financial Services Group Inc. (NYSE: HIG) is a leading provider of insurance and wealth management services for millions of consumers and businesses worldwide. The Hartford is consistently recognized for its superior service, its sustainability efforts and as one of the world's most ethical companies. More information on the company and its financial performance is available at [ www.thehartford.com ]. Join us on Facebook at [ www.facebook.com/TheHartford ]. Follow us on Twitter at [ www.twitter.com/TheHartford ].
The Hartford is The Hartford Financial Services Group, Inc. and its subsidiaries, including issuing companies Hartford Life Insurance Company and Hartford Life and Accident Insurance Company. Policies sold in New York are underwritten by Hartford Life Insurance Company. The headquarters of both companies is Simsbury, Conn.
HIG-M
Some of the statements in this release may be considered forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. We caution investors that these forward-looking statements are not guarantees of future performance, and actual results may differ materially. Investors should consider the important risks and uncertainties that may cause actual results to differ. These important risks and uncertainties include those discussed in our Quarterly Reports on Form 10-Q, our 2011 Annual Report on Form 10-K and the other filings we make with the Securities and Exchange Commission. We assume no obligation to update this release, which speaks as of the date issued.
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