May is Disability Awareness Month. How much do you and your clients know about the importance of disability insurance?
Disability is a widespread problem that continues to grow. According to the U.S. Census Bureau, more than 30 million Americans between the ages of 21 and 64 are disabled. According to the Social Security Administration:
- Almost one-third of Americans entering the work force today will become disabled before they retire.
- Over 51 million Americans—18% of the population—classify themselves as fully or partially disabled.
- In June of 2010, nearly 2.5 million disabled workers in their 20s, 30s and 40s received SSDI benefits.
Statistics show that working Americans routinely underestimate their own risk. In fact, most estimate that their own chances of experiencing long-term disability are substantially lower than the average worker’s, according to a research report by the CDA: 64% of wage earners believe they have a 2% or less chance of being disabled for three months or more during their working career, but the actual odds are about 30%.
Don’t take the chance that it won’t happen to you. You insure your car, your home, your valuables—why not your income? Aside from health insurance and retirement plans, short- and long-term disability insurance is one of the most valuable benefits an employer can offer their employees.
The Big “I” Employee Benefits program can help. As a member benefit, we offer access to group short- and long-term disability, group life insurance and dental programs through the Guardian Life Insurance Company. Contact Christine Muñoz for more information.