Employers who do not offer disability insurance to their workers are missing a key opportunity to boost their value to their employees, a new survey indicates.

Even though people consider their disability insurance policy valuable, many either don’t know or overestimate the cost of a basic long-term disability policy offered at work, according to a national survey.

A CIGNA survey found that 42% of respondents say disability insurance is one of the most important types of coverage to have, but nearly 40% overestimate the cost of a basic long-term disability policy available through work. Estimates were more than double to quadruple the amount of the actual average cost for a plan that would pay half of their income if they had to use it.

“The survey uncovered a real opportunity for employers to help their employees,” said Craig Guiffre, a senior vice president for CIGNA Group Insurance. “Disability insurance is clearly a benefit that employees value – and one that could be financially out of reach if they had to purchase it on their own,”

Guiffre added that for employers who do not offer disability coverage, “expanding their benefits to include it – whether it’s paying the entire cost, a portion of the cost, or just offering group coverage for employees to purchase on their own – is a viable way to help employees strengthen their financial security.”

Only about three in 10 were able to correctly identify the average cost range (about $20 – $25 per month) for this type of coverage, which is often less expensive than getting similar private disability insurance outside the workplace (a range of about $52 – $160 per month).