Did You Know?
- Over 37 million Americans – 12% of the population – are classified as disabled (U.S. Census Bureau, American Community Survey, 2011). More than 50% of those disabled Americans are in their working years, between the ages of 18 and 64.
- Disability can last longer than you think and have a severe impact on your finances.
- 2.6 years is the average length of an individual disability claim (GenRe U.S. Individual DI Risk Management Survey 2011). And, 61% of surveyed wage earners personally know someone who has been disabled and unable to work for three months or longer. (Council for Disability Awareness, Disability Divide Consumer Disability Awareness Study, 2010)
- Just over 1 in 4 of today’s 20-year-olds will become disabled before they retire. (U.S. Social Security Administration, Fact Sheet Feb 7, 2013)
Most Americans do not protect their income:
- About 100 million individuals are without private disability income (DI) insurance. (U.S. Social Security Administration, Fact Sheet Feb 7, 2013)
- 5 years of income reserves (Commissioner’s Disability Insurance Tables A and C, assuming equal weights by gender and occupation class) is how much savings may be needed for the 20% who suffer a long-term disability during their working careers.