For many people, the idea of "disability" often conjures up images of people confined to wheel chairs and hospital beds because of terrible accidents and rare diseases. But disability often means having vision or back problems or being temporarily sidelined as you recover from a heart attack or cancer.
Many individuals have a vague notion that Workers Compensation or Social Security will provide for them if they became disabled. But eligibility for these programs is narrowly defined and the level of income that is replaced is often limited. Employees often believe that they can rely on personal savings if they can't work due to disability. But recent personal savings data shows that Americans continue to live paycheck to paycheck and have become a nation of debtors. Disability insurance purchased from the workplace or from a financial advisor or agent can help.
We invite you to join the millions of Americans who have recognized the crucial role that disability income coverage can play in their lives. Share valuable information about disability protection with someone you love. Every household that depends on income from wages and salaries needs to think about disability income coverage.
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Disability is the leading cause of personal bankruptcies. It causes nearly 50% of all mortgage foreclosures, compared to 2% caused by death. (Health Affairs, The Policy Journal of the Health Sphere, 2 February 2005)
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A 20-year-old worker has a 3-in-10 chance of becoming disabled before reaching retirement age. (www.socialsecurity.gov/diplan)
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A disabling injury occurs every three seconds in a public setting and every four seconds in the home. (National Safety Council, “Injury Facts,” 2007 Edition)
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The number of workers who become disabled has risen by 35% since 2000 as reported by the Social Security Administration. (www.disabilitycanhappen.org/
news/survey_summary.asp)
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The personal savings rate in the United States averaged just 0.5% in 2007, with a seven year average at 2.0%. (U.S. Bureau of Economic Analysis, 2007)
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