Disability Insurance Statistics
What are your odds of a disabling injury or illness?
You probably insure your home, your car and other personal assets. But what about the income that provides those assets? You might be surprised to learn what poses the greatest threat to most people during the course of one year. Consider these statistics:
Did you know: During the course of your career, you are three and a half times more likely to be injured and need disability coverage then you are to die and need life insurance.Source: Health Insurance Association of America, 2000
Did you know: Approximately 30% of all people ages 35 to 65 will suffer a disability for at least 90 days, and about one in seven can expect to become disabled for five years or more.Source: Health Insurance Association of America, The New York Times, February 2000
Are you planning a Long Vacation?
You probably plan ahead, even for a short vacation. But, you may not have planned ahead for an unexpected "vacation"...a long-term disability. The conditions listed below could leave you unable to work for a month, six months, or even longer.
Most likely, you realize the need for life insurance – you know you’re going to die, and planning for the well being of your family upon the event of your death is not often questioned. Planning for a disability shouldn’t be any different. Especially since your chance of becoming disabled before age 65 is greater than your chance of dying.
Disability Plays No Favorites
With Disability Income Insurance you can feel secure in knowing that you are protecting your most valuable asset – your ability to work and earn an income. Avoid the financial strain even a short-term disability can cause when you’re sick or hurt to work.
The causes of disability may surprise you! Here is a breakdown (by percentage of claims) of some typical reasons an individual may become disabled:
48% of all home foreclosures are the result of disability, while only 3% of all foreclosures result from death.Source: Housing and Home Financial Agency of the US Government, 1998