July 2008 News

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Individual Disability Insurance

Can You Afford Not to Have it?

Disability Insurance protects your most valuable assets and your ability to earn an income. Without this coverage, your financial means for continuing your daily financial lifestyle could be in serious doubt. Listed below are some interesting facts regarding individual disability insurance.

1. Each year 12% of the adult population suffers a long term disability.
2. 1 out of 5 people age 35-65 will become disabled for 5 or more years before they reach age 65.
3. A worker who is 20 years old today has a 30% chance of becoming disabled before he or she ever reaches retirement age.
4. At age 32 your chances of suffering a 3-month or longer disability is 6 times more likely than death.
5. At age 35 your chances of suffering a 3-month or longer disability is 44%.
6. If you are 45, your chances of having a work disability are 3 times as high as a person in their 20’s.
7. On average 7 out of 10 claims for Social Security disability benefits are refused the first time requested.
8. About 110 million Americans do not have long term disability insurance.
9. About 8 million adults have some disability that limits or prevents them from working.
10. Disabilities are not just the result of accidental injury. Common chronic health conditions can cause disabilities that limit your ability to work. In fact, the top 3 chronic health conditions that can cause work limitations are back disorders, heart disease and arthritis.
11. If you pay the premium, the benefits are normally received free from income tax. If the premium is paid by an employer, the benefits are taxable as ordinary income.

Individual Disability Insurance – Your “Living” Life Insurance!
Click here to learn more about Disability Insurance.