Quarantine-related DIY activities can lead to more accidents, Unum finds

Rhea-AI Summary

New research by Unum (NYSE: UNM) shows that U.S. adults have increased activities that could lead to accidents since the COVID-19 pandemic began. A survey of 1,003 adults revealed that 52% are involved in indoor cleaning and 44% in yard work. Consequently, 11% reported accidents requiring medical attention since March 2020, with higher rates among younger demographics. Unum's accident insurance can provide financial aid for related medical expenses, echoing a significant concern as 75% of insured individuals struggle with out-of-pocket costs.

Positive

• Accident insurance can ease financial burdens from medical expenses, with benefits ranging from $50 to several hundred dollars for qualifying claims.
• Unum reported $12 billion in revenues and paid $7.5 billion in benefits in 2019.

Negative

• 11% of survey respondents reported accidents requiring medical treatment since March 2020, highlighting increased risks.
• High out-of-pocket costs remain a concern for many, even those with health insurance.

CHATTANOOGA, Tenn., July 2, 2020 /PRNewswire/ -- New research from employee benefits provider Unum (NYSE: UNM) shows people have picked up new or increased activities that could potentially result in accidents since the coronavirus pandemic began unfolding in March. According to an online survey among 1,003 U.S. adults conducted in June, they're doing more or much more of the following activities:

21% of people say they've spent more time on ladders during the pandemic." alt="21% of people say they've spent more time on ladders during the pandemic." />

• 52% - indoor cleaning, moving furniture, organization
• 44% - yard work or gardening
• 41% - increased exercise and physical activity
• 30% - using power tools or sharp objects
• 21% - climbing ladders

In the same survey, one in ten people (11%) said they've had an accident requiring medical attention since March 2020. These numbers were higher among Millennials and Gen Z, 13% and 22%, respectively. Looking back over the previous five years, nearly one in four (24%) people have had an accident requiring medical attention.

Accident insurance provides a financial benefit for qualifying accidents or injuries, which can help ease the financial pressure caused by out-of-pocket expenses. According to Unum claims data over the last five years (2014-2019), the most frequently paid benefits include:

1. Physician follow up
2. Emergency treatment
3. Fracture/dislocation
4. Medical imaging
5. Medical equipment for mobility

"While the dollar amount varies depending on the specific accident coverage, those insured can get anywhere from $50 to a couple hundred dollars for qualifying claims, helping offset co-pays or other out-of-pocket costs often associated with trips to the doctor," said Ashley Shope, assistant vice president, product and market development for Unum.

According to 2018 data from the National Safety Council, every 10 minutes, 885 Americans suffer an injury severe enough to seek medical help. And even those with health insurance often struggle to pay for bills not covered by their policy. The 23%3A%7E%3Atext%3DAmong%2520people%2520with%2520health%2520insurance%2CFoundation%252FNew%2520York%2520Times%2520survey.&a=Kaiser+Family+Foundation" rel="nofollow">Kaiser Family Foundation found that three out of four people (75%) with health insurance say the amount they were charged for copays, deductibles or coinsurance was more than they could afford. 

Workers can enroll in accident insurance during annual benefits enrollment, which typically takes place in the fall. For more information about the financial protection benefits of this coverage, visit Unum's accident insurance page.

About Unum
Unum Group provides a broad portfolio of financial protection benefits and services through the workplace, and is the leading provider of disability income protection worldwide. Through its Unum US, Unum UK, Unum Poland, and Colonial Life businesses, the company provides disability, life, accident, critical illness, dental and vision benefits that protect millions of working people and their families. Unum also provides leave and absence management services that streamline the leave experience for employers and employees, and stop-loss coverage to help self-insured employers protect against medical costs. Unum reported revenues of $12 billion in 2019 and paid $7.5 billion in benefits.

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SOURCE Unum Group

FAQ

What does Unum's recent survey reveal about accident rates during the pandemic?

Unum's survey indicates that 11% of U.S. adults reported accidents requiring medical attention since March 2020, with higher rates among younger demographics.

What percentage of people have increased activities that could lead to accidents since the pandemic?

52% of respondents reported more indoor cleaning, and 44% increased their yard work activities, contributing to higher accident rates.

How much financial support can Unum's accident insurance provide?

Accident insurance from Unum can offer benefits ranging from $50 to several hundred dollars for qualifying claims, aiding in covering out-of-pocket medical expenses.

What are some common accidents covered by Unum's insurance?

Common claims include physician follow-ups, emergency treatments, fractures, medical imaging, and mobility equipment.