For any of our clients from Aflac who had assets invested in the stock market in 2008, odds are, you experienced post-traumatic stress following the market collapse and succeeding crisis.

When we think about post-traumatic stress disorder, we typically envision combat, tornadoes, and hurricanes. But we'd like to remind our Aflac clients that PTSD is not limited to life-threatening events. Events threatening financial security (and even career security) can be very traumatic.

 

A study reported in the Oxford Health & Social Work Journal examined the risk of PTSD associated with sudden and dramatic personal financial loss.  The authors conducted a survey of 173 Madoff victims and found that 58% met the criteria for a PTSD diagnosis, 61% acknowledged high levels of anxiety, 58% were depressed and 34% had health-related issues. Moreover, 90% of these victims felt a substantial loss of confidence in any financial institutions.

We know from Dr. Abraham Maslow that when people have their security threatened through any event, all of their confidence and self-esteem can be destroyed, and they then focus all of their attention on searching for recovery.

Before finalizing any estate plan, it is worth examining how Aflac's employer-sponsored benefits fit into the broader picture. It is important to note that Aflac maintains a defined benefit pension plan that has been frozen to new benefit accruals -- meaning the plan no longer accumulates future benefits for most employees, but those who were already vested may still be entitled to receive the pension benefit they accrued prior to the freeze, subject to the vesting requirements described in their plan documents - this means the plan no longer accumulates future benefits for most employees, but those who were already vested may still be entitled to receive the pension benefit they accrued prior to the freeze, subject to the vesting requirements described in their plan documents. Aflac also offers retiree healthcare benefits to eligible employees, which can provide meaningful coverage for those who retire before reaching Medicare eligibility at age 65. Because the specifics of your pension benefit, retiree healthcare eligibility, and any matching contributions depend on your individual employment history and plan documents, We encourage you to review your Summary Plan Description (SPD) or speak with Aflac's HR or benefits team for the most current details.