Do You Need Disability Insurance?

• Almost 3 in 10 workers entering the work force today will be disabled before retiring.
• Half of all personal U.S. bankruptcies affecting 2 million people annually, were attributable to illness or medical bills.
• Approximately 30 percent of all people, ages 35 to 65 will suffer a disability for at least 90 days, and abut one in seven can expect to become disabled for five years or more.
• During your working years, it's more likely you will face a disability than die. For a male age 35, the odds are nearly 2 to 1; for a female, age 35, almost 3 to 1.
• The average duration for a disability for a person 40-54 is greater than four years.
• Forty-six percent of all foreclosures on conventional mortgages are brought about by a disability. Approximately two percent are caused by the death of a homeowner.
• If you put away 10 percent of your income, then simple math says that one year of being totally disabled could wipe out 10 years of principal that you put into your savings.