Disability Insurance — Because Life Happens

The Social Security Administration found that one in four workers entering the workforce will become disabled at some point in their working lifetime, yet the 2024 Insurance Barometer Study by Life Happens and LIMRA found that over half of Americans (59%) said they are somewhat or not at all knowledgeable about disability insurance, which may hinder sign-ups.

One of the ways to combat this knowledge gap is using social media, given that 59% Insurance Barometer respondents use social media to obtain information on financial or insurance products.

However, cutting through the social media noise can be tough, especially when you're hoping to effectively reach social media users with a topic that's seemingly difficult to understand or unexciting.

Leaning into authentic influencer partnerships and clear, easy-to-understand information is key here.

Social media users, who increasingly understand the world of influencer partnerships, tend to react more favorably, and trust a product like disability insurance when there is a genuine relationship between the influencer and product.

Take Life Happens' partnership with micro-influencer, Kim Williams, for example.

A single mom, Kim uses her platform to share clear financial wellness tips with her 75,000 followers.

Life Happens tapped Kim again after working with her in 2023, this time for the 2024 Disability Insurance Awareness Month in May, because she has a personal experience with disability insurance that she can speak to.

Her first Instagram Reel of the campaign dives into this first-hand account, painting a picture of Kim being hospitalized due to COVID-19, but having to rush back to work despite not being fully recovered because she did not have disability insurance.

"I wish I had disability insurance," Kim shares in her video.

Within 12 hours, Kim had over 60 comments from followers asking for more information about disability insurance – more comments than Kim typically gets on her Instagram Reels.

This is a true testament to just how powerful authentic influencer partnerships can be for generating conversations around financial products, and hopefully, more sign-ups.

In addition to working thoughtful, authentic influencer partners, it is also important to create clear, straight-to-the-point content, given that there is a lack of understanding of what disability insurance is.

And with today's shortened attention spans, short-form content and graphics tend to resonate with social media users most.

Breaking common myths about disability insurance, using graphics to show a breakdown of who needs this type of coverage (typically more than what people assume), or quick voiceover Q&A content are just some thought-starters for simple disability insurance content that agents can consider.

Lean into moments in time, like the annual Disability Insurance Awareness Month campaign that will come around next May, to amplify the importance of disability insurance via social media as well.

Our industry must emphasize the importance of clients protecting their ability to earn a paycheck, and authentic influencer partnerships and easy-to-understand social media content are key to achieving this.

Insurance and financial professionals looking to further combat the lack of understanding around disability insurance can check out the disability insurance information and videos Life Happens provides, including a free disability insurance needs calculator.

Brian Steiner is the executive director of Life Happens, a national non-profit organization the provides financial education and promotes consumer empowerment. It oversees the Life Lessons Scholarship Program, which provides support for students facing financial challenges due to the loss of a parent who had no life insurance.