While the majority of Americans say they believe people need disability insurance, only one in four of them actually own a policy.

A survey conducted by industry research group LIMRA has found that while 61% of those surveyed think people should have disability insurance, just 26% had their own coverage. The may be due to the fact that workers often don’t know how much a policy costs, since so much of it depends on individual factors such as age, occupation, and salary.

LIMRA points to a report from the Council for Disability Awareness in which one third of people did not believe they could afford disability insurance and were under the impression that a policy would cost somewhere between $600 and $720 a year. In fact, LIMRA's group disability survey found that average annual plan costs in the United States tend to be between $200 and $300.

"One third of people said they would consider disability insurance if they knew more about it," concludes LIMRA. "This is where advisors can play an important role to help clients better understand disability insurance and determine the right amount of coverage for their situation."