Disability Insurance Awareness Month

Anyone familiar with Delmar Nursing and Rehabilitation needs no introduction to the world of disabilities, unfortunately. And although there are excellent solutions for your loved one’s health and wellbeing, as you are equally familiar with, not all Americans are so fortunate when it comes to their incomes.

This is why The Council for Disability Awareness (CDA) took action. The non-profit realized that many Americans were losing their incomes due to short-term or long-term disability and were left with nothing to fill the gap.

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What is Disability Insurance Awareness Month?

Every May, CDA raises awareness about the importance of income protection, during what is known as Disability Insurance Awareness Month. The goals are to educate Americans that disability is a real concern and how to insure against this threat.

Disability Breakdown

According to CDA’s 2018 facts, musculoskeletal disorders account for 20% of short-term disability claims and 29% of long-term claims. Mental health issues rack up 7.7% and 9.1% for short-term and long-term claims, respectively. Injuries account for 7.5% of short-term claims and 9% of long-term claims. Digestive disorders make up 7.8% of the short-term claims. Cancer claimed 15% of long-term disability claims. And, finally, pregnancies stood at 25% of short-term claims and 9.4% of long-term claims.

The Scope of the Problem

Just how many people are at risk? More than 51,000,000 households. According to a study by American Council of Life Insurers, this is the number of households in America that don’t have disability insurance, other than Social Security.[1]

In 2014, lost jobs accounted for 20% of bankruptcies, medical bills were responsible for 26% and an injury in the family claimed another 15%, according to a study published in the Maine Law Review. [1]

If you haven’t taken care of income insurance yet, now is the time.

How have you dealt with your income during disability?

Please share in the comments below.

[1] http://disabilitycanhappen.org/public_html/wp-content/uploads/2018/04/The-CDA-RealityCheckup-Media-Kit.pdf

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