Data & Research
MetLife Finds Younger Employees Concerned about Income Protection
MetLife said its 8th Annual Employee Benefits Trends Study
approximately one out of two Gen Y employees does not feel very
confident about their ability to make the right financial decisions for
their families.
Reported by Rebecca Moore
The study found that about seven out of ten Gen Y employees are very concerned about having enough money to pay bills during a period of sudden income loss. Of those Gen Y employees that say they have disability income insurance coverage, one-third (35%) are unsure how much of their income is protected.
In addition, about half of Gen Y employees are very concerned about the financial impact of their premature death on their families. Despite being younger than their co-workers this concern level is approximately the same, MetLife said.