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TheStreet Open House

The Hartford's Research Found 86 Percent Of Consumers Say It Is Important To Be Able To Customize All Their Benefits To Fit Their Individual Lifestyle. (Photo: Business Wire)

Today The Hartford launched DisabilityFLEXsm, voluntary group disability insurance that allows employees to customize their income protection in three key ways – how much money they receive, when, and for how long if they are unable to work due to an off-the-job injury or illness.

The Hartford's research found 86 percent of consumers say it is important to be able to customize al ...

The Hartford's research found 86 percent of consumers say it is important to be able to customize all their benefits to fit their individual lifestyle. (Photo: Business Wire)

The benefits provider also released research that found a majority of consumers – 86 percent – say it is important to be able to customize all their benefits to fit their individual lifestyle.

“Consumers today can customize everything – from music and TV to clothing and cars, and our recent survey shows they want to customize their benefits, too,” said Mike Fish, vice president of voluntary benefits with The Hartford.

In The Hartford’s December 2012 survey, 76 percent of consumers said it’s important for them to design their own disability insurance instead of a one-size-fits-all coverage chosen by their employer. Also, 82 percent of consumers said they would likely sign up for a disability plan that allows them the opportunity to choose the amount of their weekly payment.

With DisabilityFLEX, employees create their own income protection by making choices about:

  • Benefit amount – How much the employee will receive as a weekly flat dollar amount, from $200 to $1,000;
  • Start date – When the employee begins receiving the benefit, from eight to 30 days after a non-work-related injury or illness that is covered by the plan; and
  • Duration – How long the employee will receive the benefit, up to 104 weeks.

“Like standard short-term disability insurance, DisabilityFLEX is designed to help protect an employee’s paycheck, but there are key differences,” Fish added. “For example, if you're disabled and not working, your benefit will not be reduced by other income. The amount that you select is the amount that you will receive.”

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