COLUMBUS, Ga., April 16, 2014 /PRNewswire/ -- Aflac, the leading
provider of voluntary insurance in the U.S., is the preferred brand
among consumers who are likely to purchase supplemental products in
the next 12 months according to recent data from marketing research
firm Prince Market Research (PMR). The survey of 1,714 consumers,
conducted by PMR on behalf of Aflac, also shows that 53 percent of
consumers say that working for a company that offers supplemental
insurance will be important to them post reform.
According to the findings, those consumers who are considering
an insurance purchase rate Aflac as the No. 1 brand for accident,
disability, cancer and critical illness plans. Voluntary insurance
plans provide added protection that complements major medical
coverage to help with daily living expenses. Supplemental products
– such as accident, critical illness and hospital indemnity plans –
are designed to help pay for out-of-pocket expenses such as
mortgage, rent, car payments, child care, deductibles, copayments
and other necessities.
"The survey results are a testament to Aflac's promise – we are
there for our policyholders when they need it most by paying cash
benefits to be used as they see fit," said Michael Zuna, executive vice president, chief
marketing officer at Aflac. "And, Aflac works quite hard to ensure
they get paid quickly as well so they can focus on getting better
and back to work."
Many Americans are shouldering both additional health care costs
and decision-making responsibility as a result of health care
reform. Even with a comprehensive major medical plan, the
out-of-pocket costs (both medical and non-medical related) can be
substantial. In fact, more than one-third (37 percent) of consumers
expect more gaps in coverage and 62 percent think their costs will
increase post-reform.
However, only 6 percent of U.S. employees completely agree
their family would be financially prepared for an unexpected
emergency. In addition, 49 percent of workers have less than
$1,000 in savings for out-of-pocket
costs and 27 percent have less than $500.1
"As health care costs continue to increase, consumers expect
more gaps in their major medical insurance as a result of health
care reform and many are unprepared to pay for the higher costs,"
Zuna said. "That's where Aflac's voluntary plans come into play.
Businesses that add voluntary insurance to their benefits offerings
can help their employees cope with out-of-pocket expenses due to an
injury or illness while not incurring any additional cost to the
company."
To learn more, visit aflac.com or follow @aflac on Twitter.
About the 2013 Benefits Landscape Survey
The 2013
Benefits Landscape Survey is a benefits study examining trends and
attitudes regarding supplemental insurance products and health care
reform.
Conducted by Prince Market Research on behalf of Aflac, the
research contained three components, including 514 Buyers of Aflac
products, 600 Buyers of Non-Aflac supplemental insurance products,
and 600 Non-Buyers of supplemental insurance products. Topics
covered in the questionnaire included current ownership, purchase
intent, intent to keep, basic attitudinal similarities and
differences among groups (buyers, competitive buyers, non-buyers),
potential impact of health care reform on consumer attitudes, and
estimated future demand for supplemental insurance products.
For some tables, a weighted total is shown, including all three
groups. In these tables, a weighting was applied to mitigate the
over-representation of Aflac Buyers
in the totals (approximately one third of the sample but only five
percent of the consumer population). The weights applied were
obtained by using the actual incidence of each group experienced
when fielding the survey. No estimates of theoretical sampling
error can be calculated; a full methodology is available.
Methodology
The 2013 Benefits Landscape Survey was
conducted online in September 16-21,
2013, among 1,714 U.S. consumers between the ages of 18 and
65 with household incomes of $30,000
or more who are primary decision-makers or share in the
decision-making process regarding insurance for their households.
The questionnaire contained 41 questions, many of which had up to 9
sub-questions and/or contained "check all that apply" responses. It
took approximately 10-12 minutes on average to complete the survey
online. This online survey is not based on a probability sample and
therefore no estimate of theoretical sampling error can be
calculated. For complete survey methodology, including weighting
variables, please contact Aflac Media Relations at
mediarelations@aflac.com or 706.243.5543.
About Prince Market Research
Prince Market Research is
a leading marketing research firm that specializes in Brand
Strategy Research, Customer Experience Research and New Product/New
Service Research. They have a 20-year track record of service to
major businesses in the health care and financial sectors as well
as non-profit, government agencies, and educational institutions.
Prince Market Research provides a customized, full-service approach
to market research with a focus on the customer experience. For
more information, please visit www.PMResearch.com.
About Aflac
When a policyholder gets sick or hurt,
Aflac pays cash benefits fast. For nearly six decades, Aflac
insurance policies have given policyholders the opportunity to
focus on recovery, not financial stress. In the United States, Aflac is the leading
provider of voluntary insurance at the worksite. In Japan, Aflac is the number one life insurance
company in terms of individual policies in force. Aflac individual
and group insurance products help provide protection to more than
50 million people worldwide. For eight consecutive years,
Aflac has been recognized by Ethisphere magazine as one of the
World's Most Ethical Companies. In 2014, FORTUNE magazine
recognized Aflac as one of the 100 Best Companies to Work For in
America for the 16th consecutive year. Also, in 2014, FORTUNE
magazine included Aflac on its list of Most Admired Companies for
the 13th time, ranking the company number one in the life and
health insurance category. Aflac Incorporated is a Fortune 500
company listed on the New York Stock Exchange under the symbol AFL.
To find out more about Aflac, visit aflac.com or
espanol.aflac.com.
1 2014 Aflac WorkForces Report, a study conducted by
Research Now on behalf of Aflac, January
2014
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Media
Contacts:
|
|
Kip Havel
|
Cathleen
Bleers
|
Aflac
|
Hill+Knowlton
Strategies
|
706.243.5543
|
312.255.3123
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mediarelations@aflac.com
|
cathleen.bleers@hkstrategies.com
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SOURCE Aflac