The majority of workers – even those earning more than $100,000 a year – lack confidence that their employer-provided benefits would provide sufficient money if they missed work for illness or injury.

Sixty percent of workers would consider buying more coverage through their employer, if given the chance, according to a new study from employee benefits provider Unum.

Neiciee Durrence

With businesses struggle to survive the recession through budget and benefit cuts, voluntary benefits seem poised to fill in the financial gaps, said Neiciee Durrence, vice president and voluntary practice leader for Unum, in a statement.

About 63% of human resource professionals, gathered at the Society for Human Resource Management conference in June, said they expect employees to become more interested in voluntary coverages, Durrence said.

High-income earners and younger workers appear most receptive to expanding workplace benefits, the Unum survey found.

“Employers invest a lot of time and money in building the right benefits package to help their workforce stay financially stable and help protect them from the financial fallout of illness and injury,” Durrence said.

“As we head into the fall benefits enrollment season, this survey offers a strong message to employers about the need to offer ways to cover gaps in those benefits plans,” she added.

Just 32% of employees surveyed said the non-medical benefits they receive through work would provide adequate financial resources for them and their families should they become unable to work due to injury, illness or maternity.

A total of 53% say they would not have enough money to meet their basic needs if they were unable to work for an extended time, and another 15% were unsure if they could weather an extended period of missed work.

If their employer offered them the opportunity, 59% of employees indicate they would consider purchasing additional insurance to cover themselves financially.

Employees with annual incomes of $100,000 or more said they felt unsure about their ability to withstand the loss of income, with 41% indicating that they would not be adequately protected by the benefits they received from their employer.

Among employees age 21 to 29, a total of 63% say they would consider purchasing more coverage if it were offered through work. Workers between the ages of 45 and 64 were less receptive, with just 54% saying they would consider increased coverage.