Gig Workers Financial Concerns Surveyed By Association

The financial concerns of Millennials and GenXers who are part of the growing gig worker economy are being researched by the American Association for Critical Illness Insurance.

LOS ANGELES - Californer -- The freelance or gig worker economy is growing three times faster than the traditional workforce in the United States according to the American Association for Critical Illness Insurance (AACII). The organization launched its first survey of gig workers to determine financial concerns.

"According to the Bureau of Labor projections, the percentage of Americans who are defined as gig economy workers will increase to 43%," shares Jesse Slome, director of the national organization. "There are 57 million U.S. gig workers who work either full-time or part-time and the Covid virus will only increase that number."

Little is known about gig workers Slome explains. The Association announced it will undertake a series of studies to better understand the financial situation and needs of gig economy workers.

"We know that many Americans are not prepared to handle an unexpected expense," Slome notes. "But surveys that include working age individuals with salaried jobs do not paint an accurate picture of gig workers. We hope to get some greater insights that can be beneficial to all."

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Slome notes that many Millennials and GenXers who comprise the gig worker economy have never heard of critical illness insurance. "They see ads that convey the importance of life insurance but these generations have different financial needs," Slome contends. "They have a greater chance of a critical illness before age 70 than dying. That makes critical illness insurance far more important."

To complete the survey, go to https://www.surveymonkey.com/r/56QKTL8

The American Association for Critical Illness Insurance advocates for the importance of planning. The Los Angeles based organization maintains an extensive website where consumers can access the latest information on cancer, heart attacks, strokes as well as critical illness insurance costs using the Association's free cost calculator. Go to https://www.criticalillnessinsuranceinfo.org for more information.