Financial Risks For Working Americans Who Become Disabled

Disability is a hidden financial threat because so few people believe it will happen to them, or they believe they have more coverage than they actually have. While social security is available to all full-time workers, it is very difficult to qualify for these benefits. About 60 percent of workers who apply for Social Security Disability Benefits are denied coverage.

• A recent survey showed that 70 percent of Americans would not be able to survive one month without work income before having financial difficulties.
• More than 1 in 4 Americans wouldn't make it a week without their regular salary.

This is sobering news, but there is a way to prepare for the likelihood of a disability. Individual disability insurance may be able to replace 70 percent of your income if you become disabled. There are many different disability insurers out there. Comparison shopping can help you find a great price. To compare quotes from disability insurers near you, fill out InsuranceBureau's online questionnaire form.

Sources

1. Disability Insurance. Retrieved April 29, 2008, from http://www.lifehappens.org/disability-insurance/
2. Why Devote a Month to Disability Insurance Awareness? Retrieved April 29, 2008, from http://www.lifehappens.org/diam/