The need for disability insurance exists as only 32% of civilian wage earners are covered by group long-term disability insurance. 71% of American households consume 100% or more (through credit cards and debt) of their paycheck each month. 90% of disabilities are not caused by work-related injuries or conditions with the most common causes being cancer, complications of pregnancy, back injuries, stroke and neurological disorders.
More than a quarter of working Americans say they would have trouble supporting themselves financially, ‘immediately’ following a disability that keeps them out of work while nearly half would not have resources to carry them beyond the first month of income loss.
You cannot depend on Social Security Disability Insurance for your long term disability protection as approximately 70% of first-time applicants for benefits under this federal program are denied. There are four layers of appeal and the typical waiting period is longer than 880 days.
You cannot depend on Social Security Disability Insurance for your long term disability protection as approximately 70% of first-time applicants for benefits under this federal program are denied. There are four layers of appeal and the typical waiting period is longer than 880 days.
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