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May is Disability Insurance Awareness Month. Each year, The Council for Disability Awareness joins forces with others in the insurance industry to raise awareness about the importance of income protection. The tools and resources on their campaign website are designed to help consumers, advisors, employers, and anyone else interested in understanding the need for every American to protect his or her income. Below, is what you need to know about the chances of disability.
What are your chances of being disabled?
Higher than you probably think. You can ignore the problem, but it’s hard to ignore the facts:
Are you prepared if it happens to you?
Probably not. If you’re like most Americans, you don’t have disability insurance or enough emergency savings to last 34.6 months, which is the average duration of a long-term disability claim.
If you become disabled, will you be ready? Or will you and your loved ones face serious financial hardship, possibly foreclosure and even bankruptcy? The Council for Disability Awareness has good news, the CDA can help you prepare for disability the same way you plan for other emergencies.
What are the most common causes of disability?
Injuries at work? Freak accidents? It’s true, they happen. But the truth might surprise you:
Disability in America
Disability is already a widespread problem, and the threat is growing at an alarming rate:
Working Americans underestimate their risk of disability:
Most American workers’ incomes are not protected:
Visit CDA’s website to find out what YOUR chances of not being able to earn an income are. They call it your Personal Disability Quotient (PDQ). It’s a way to calculate your odds of an injury or illness and to also give you some tips on how you can prevent disability from downgrading your lifestyle and devastating your savings.
1. Council for Disability Awareness, Disability Divide Consumer Disability Awareness Study, 2010
2. U.S. Social Security Administration, Fact Sheet February 7, 2013
3. Council for Disability Awareness, Long-Term Disability Claims Review, 2012
Original source: Council for Disability Awareness http://disabilitycanhappen.org/
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