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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.[/vc_column_text][/vc_column][/vc_row]
