| What are the chances that you could be disabled before age 65?
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| Why You Should Be Concerned About Coverage?
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| 1. | A Disability Insurance Policy will pay you a monthly amount if you become disabled and can no longer work, to earn your income.
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| 2. | Disability Ins. safeguards your personal financial health by providing the needed income for all of your monthly expenses.
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| 3. | Your policy can help ensure that your family can continue to live in their home.
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| 4. | Unfortunately, sometimes a person is disabled for life unable to earn an income that would maintain the lifestyle they are accustomed to.
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| Disability Statistics
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Recent studies indicate, the average person estimates they have only a 16% chance of becoming disabled during their working years. That said, the following statistics dispute that argument:
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| People under age 35, have a one in three chance they will be disabled for at least six months during the course of their career.
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| Males have a 43% chance of becoming seriously disabled during their working years.
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| The percentage for women is that 54% will become seriously disabled during their working years.
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| Perhaps the most startling statistic is, at age 42, a person is four times more likely to become seriously disabled than die during their working years.
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Sources:
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1. Gallup survey, conducted for UNUM Corporation (508 respondents, aged 30 to 65), reported by Best's Review.
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2. "Why Disability" booklet, published by National Underwriter.
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| What do you think could keep you from doing your job?
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One of the most common misconceptions people have is it would take a catastrophic accident to cause them to be disabled. The reality is only 13% of disabilities are do to injury (National Institute on Disability and Rehabilitation Research, 1992) it is illness that prevents you from working in your occupation.
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We encourage you to request a disability insurance proposal now to begin the process of purchasing disability insurance so that none of the impairments listed below will ever prevent you from bringing home a paycheck.
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Another issue people often don’t consider are mental health issues. Nobody thinks they will ever develop any mental health issues or serious emotional problems that would cause them to be disabled. That is not how it happens, you don't wake up depressed one day. Often people develop these problems after struggling with a serious personal or work related issues, or after some other significant life event.
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| Disability insurance facts
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The 1985 Commissioner's Disability Table provides some excellent data concerning the risk of an individual suffering a long term disability where they would have need of an individual disability insurance policy to provide a source of income
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The chart below indicates percentage of people who can expect to suffer a long-term disability of 90 days or more before they reach the age of 65. The following statistics are compelling.
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| Age
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Percentage
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Disabled
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| 25
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52%
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1 out of 2
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| 30
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51%
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1 out of 2
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| 35
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48%
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4 out of 9
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| 40
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45%
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4 out of 9
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| 45
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40%
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2 out of 5
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| 50
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34%
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1 out of 3
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| 55
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27%
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1 out of 6
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| 60
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16%
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1 out of 6
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Unless you are extremely wealthy, and have no need to work you need to seriously consider disability insurance
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| How long do disabilities last on average?
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If a disability of 90 days or more lasts two years, it will probably continue longer, perhaps for life.
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| Likelihood of death versus a long-term disability
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There are two threats to your ability to earn an income - death and disability. Most of us have prepared for the inevitability of death. Disability, on the other hand, isn't a certainty. However what are the chances that you will be disabled before age 65?*
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| Age
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Death
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Disabled
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| 25
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24.1%
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34.8%
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| 30
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23.5%
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33.1%
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| 35
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22.8%
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31.3%
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| 40
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21.8%
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29.1%
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| 45
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20.4%
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26.3%
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| 50
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18.3%
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22.6%
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| 55
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14.9%
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17.6%
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| 60
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9.3%
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10.6%
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