Many people believe that disability is a rare event, unlikely to affect them personally. However, the reality is that disability due to illness or injury is more common than most realize, and the financial consequences of being unprepared can be severe. If you rely on your income to support yourself or your family, understanding the risks and planning accordingly is crucial.
Let’s explore some real-world statistics to grasp how likely disability is and what it can cost if you’re not protected.
📊 Disability Is More Common Than You Think
- 1 in 4 of today’s 20-year-olds will become disabled before reaching retirement age.
Source: Social Security Administration - Over 37 million Americans are classified as disabled, accounting for about 12% of the total population.
Source: Council for Disability Awareness - Only 10% of disabilities are caused by work-related injuries; the vast majority result from illnesses and accidents that occur outside the workplace.
Source: Council for Disability Awareness
Disabilities can affect anyone, regardless of occupation. Common causes include:
- Chronic illnesses such as cancer or heart disease
- Mental health conditions
- Musculoskeletal disorders
- Accidents during everyday activities
💸 The Financial Impact of Being Unprepared
- The average long-term disability claim lasts nearly three years.
Source: U.S. Bank - Approximately 63% of Americans live paycheck to paycheck, with minimal emergency savings.
Source: Investopedia
Without a financial safety net, a disability can lead to:
- Missed mortgage or rent payments
- Accumulation of medical debt
- Depletion of retirement savings
- Increased reliance on credit cards or loans
🛡️ How Disability Insurance Can Help
Disability Insurance provides a reliable income stream if you’re unable to work due to illness or injury. It can help you:
- Cover daily living expenses
- Maintain your standard of living
- Avoid draining your savings
- Focus on recovery without financial stress
📣 Take Action Before It’s Too Late
Disability can happen to anyone, at any time. The statistics highlight the importance of being prepared. Disability Insurance is often more affordable than people assume and can be tailored to fit your specific needs and budget.
👉 Protect your income and your future. Contact us today to learn more about Disability Insurance options and get a personalized quote.
📚 Sources
- Social Security Administration – “Fact Sheet: Benefits for People with Disabilities” (2024)
- Council for Disability Awareness – “Disability Statistics” (DisabilityCanHappen.org)
- U.S. Bank – “Is Your Employer’s Long-Term Disability Insurance Enough?”
- Investopedia – “Living Paycheck to Paycheck”
