Disability-Insurance-Statistics-Facts

Statistics can help point out how valuable Disability Insurance is. We have compiled a variety of statistics and facts that encompass how important Disability Insurance is in today’s modern world.

  • Almost half of the roughly one million American bankruptcies in 1999 occurred as the direct result of an unexpected injury or illness.
  • Disability is the cause of nearly 50% of all home foreclosures.
  • 1 in 3 people can expect to be disabled for 90 days or more.
  • Nearly 1 in 5 people living in the U.S. will suffer a disability lasting for more than one year before the age of 65.
  • 1 in 7 people can expect to be disabled for five years or more.
  • 90% of disabilities in the U.S. are due to illness vs. injury.
  • 90% of disabilities happen outside of work and are not covered by Workers Compensation.
  • In 2005, the Social Security Administration denied 64 percent of applications for Social Security Disability benefits.
  • One-third of all Americans between 35 and 65 will suffer a disability that will keep them out of work for more than 90 days.
  • Almost 3 in 10 of today’s 20 year-olds will become disabled before reaching age 67.
  • Thirty-year-old women have a 57% chance of becoming disabled before reaching 65 but only a 16% chance of dying.
  • A fatal injury occurs every 5 minutes.  A disabling injury occurs every 1.5 seconds.
  • There is a death caused by a motor vehicle crash every 12 minutes. There is a disabling injury every 14 seconds.
  • Income lost through disability is 2 times as great as auto accident losses, and 3 times as great as fire losses.
  • A person in the U.S. has a greater risk of disability than death at every age between 20 and 65.
  • Chances are 1 in 2 that a 30 year old will be disabled for more than three months before age 65.
  • Before age 65, if a disability lasts 90 days, it is expected to last an average of 2-1/2 years.
  • 80% of U.S. workers will exhaust their savings in only two months without the ability to earn an income.
  • For 30-year-old males, the risk of a long-term disability is 4.1 times more likely than the risk of death.  For 40-year-olds, it is 2.9 times more likely.  And at age 50, it is 2.2 times more likely.
  • Every year, 12% of the adult U.S. population suffers a long-term disability.
  • One out of every seven workers will suffer a five-year or longer period of disability before age 65.
  • At age 35, you have a 50% chance of experiencing a disability of 3 months or longer before age 65.  At 45, the figure is 44%.
  • The leading causes of Long-Term and Short-Term Disability:
    Long-Term
    Cancer 13%
    Pregnancy – Complications 12%
    Back 11%
    Cardiovascular 9%
    Depression 5%
    Short-Term
    Pregnancy – Normal 20%
    Pregnancy – Complications 9%
    Injuries (except Back) 9%
    Back 8%
    Digestive / Intestinal 8%

     

To discuss your options about Disability Insurance and/or speak to an experienced advisor, please call us at (800) 788-8921 or fill out our brief Contact Form to be contacted directly. We can answer your questions and customize a Disability Insurance policy that is right for you, your family, and your budget.