Everyone has high hopes for what the new year will bring. Regardless of a client or employee's generation, everyone is susceptible to an accident or a prolonged health condition. If someone is diagnosed with an illness or injury, becomes disabled, or requires a leave of absence to care for a relative, it is important for their income to be protected to sustain their current lifestyle.
The three most prominent generations in the workforce — baby boomers, Gen Xers and millennials —share a rising tide of financial concerns. A combined total of 71 percent of employees worry about lost wages if they can't work. And 52 percent are concerned about support if they become disabled, according to a proprietary employee benefits research study by The Standard. But each generation has different interests and values, influenced by economic currents from when they came of age.
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