MADISON, Wis., July 18, 2018 (GLOBE NEWSWIRE) — SafetyNet, the insurance program that provides workers with an immediate lump-sum payment following an unexpected layoff, illness or injury, continues to grow by launching in four new states this July, including Colorado, Michigan, Missouri and Oklahoma. With this news, SafetyNet is now offering greater financial peace of mind to more than 21 million workers* in eight states across the country.
A recent national survey conducted by SafetyNet found that more than half of Americans feel stress or anxiety over paying their bills, with six out of 10 respondents stating they have struggled to pay for basic living expenses like groceries, housing or medical bills.
The data shows that Americans are finding it difficult to save money.
- Nearly 40 percent of respondents say they save less than $50 each month.
- Nearly half of respondents say they do not currently have enough savings to cover three months of basic living expenses.
- More than one-third say they could not currently cover a $500 emergency expense.
- Nearly two out of 10 respondents report having no forms of savings at all.
“Our mission at SafetyNet is to give hard working Americans greater peace of mind over their financial situation. We’re working to do that by providing workers with access to a product they can purchase directly with the level of coverage they need to ensure they have some protection in the case of the unexpected,” said Dan Kaiser, SafetyNet President. “All across America, workers are finding it difficult to make ends meet, nevermind setting aside a portion of their paycheck to put into savings. Our data shows that building a financial cushion is a very real problem that many Americans face, and we want to be there to help them navigate the unexpected when a loss of income happens.”
The lump-sum payment provided by SafetyNet can be used to help cover any and all expenses that occur after an unexpected loss of income. SafetyNet’s insurance offering is designed to supplement traditional unemployment and disability benefits, which workers may still collect in addition to the pay-out SafetyNet provides.
SafetyNet is a mission-driven program dedicated to empowering and improving the financial well-being of hard-working Americans. It is brought to you by a multi-billion dollar insurance group with 80 years of industry expertise, and is currently available to residents in Colorado, Iowa, Michigan, Mississippi, Missouri, Oklahoma, South Carolina and Wisconsin.
For more information on SafetyNet or to sign up for the program, please visit www.safetynet.com.
*Based on Labor Force Data from the U.S. Bureau of Labor Statistics
SafetyNet is a values-driven, mission-based insurance program that was founded to help improve the financial well-being of millions of hard working Americans. SafetyNet insurance plans provide workers with an immediate lump-sum payment following an unexpected layoff or extended illness or injury. SafetyNet is brought to you by a multi-billion dollar insurance group with 80 years of industry expertise. Headquartered in Madison, Wisconsin, SafetyNet currently serves residents of Colorado, Iowa, Michigan, Mississippi, Missouri, Oklahoma, South Carolina and Wisconsin. To learn more about SafetyNet, visit www.safetynet.com.
Nicole Enberg Vaz