OMAHA, Neb.–Unpaid maternity leave would empty the cash savings of three in four women, according to a new survey.
The survey, conducted by Breeze, asked 1,001 employed women between the ages of 18 and 44 how their finances would hold up after eight weeks of unpaid maternity leave. They survey asked the group how they would rank paid maternity leave against other employee benefits.
Among the key findings in the survey, according to Breeze, which is a provider of short-term disability insurance:
- 74% wouldn't have any cash savings left after 8 weeks of unpaid maternity leave
- 49% would consider drawing from their retirement account to cover costs during unpaid maternity leave
- On a scale from 1 (no setback) to 10 (permanent setback), the highest percentage of women answered with 10 when rating the potential financial setback from eight weeks of unpaid maternity leave
- 47% would take 5% less salary if an employer was offering eight weeks of paid maternity leave
- 30% would give up vision insurance if an employer was offering eight weeks of paid maternity leave, while 22% would give up dental, and 15% would give up health insurance
Insurance Not Considered
The survey found most poll participants haven't considered short-term disability insurance because they've never heard of it. And for those that said they knew what it was, only 50% knew a short-term disability insurance plan could be purchased before pregnancy to get pregnancy covered.
The full survey can be found here.
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