You, disabled? What are your chances? Probably higher than you think. You can ignore the problem, but it’s hard to ignore the facts: Just over 1 in 4 of today’s 20 year-olds will become disabled before they retire. Accidents are NOT usually the culprit. Back injuries, cancer, heart disease and other illnesses cause the majority of long-term absences. 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 31.2 months. Yes, that’s the duration of the average 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? Good news. We can help you prepare for disability the same way you plan for other emergencies..
A disability plan will help with day-to-day expenses – housing, food, car payments, even additional medical costs – if an illness or accidents disables you away from the workplace. You won’t have to worry about using your savings or incurring additional debt to cover these costs and care for your family.
Why do I need disability coverage? Most people can’t afford to be disabled, even for a short time. Almost 90 percent of disabling accidents and illnesses are not work related, so you can’t count on Workers Compensation to be there for you and your loved ones (National Safety Council, Injury Facts 2008 Ed.). Here are more reasons to take a closer look at short-term disability protection:
- 71% of American employees live from paycheck to paycheck.1
- Unexpected illnesses and injuries cause 350,000 personal bankruptcies each year.2