Excerpt from PR Web: (click for entire article)
Many people in today’s workforce don’t think about disability until an illness or injury prevents them from working. But being knowledgeable about disability insurance is crucial to any person’s financial plan, according to Allsup, which has helped tens of thousands of people receive their Social Security Disability Insurance(SSDI) benefits. During May, Disability Insurance Awareness Month provides an opportunity to remind people to evaluate their insurance needs and planning in case they can no longer work because of a severe disability.
“Many people are more aware of the value of life insurance and health insurance than disability insurance,” said David Bueltemann, manager of senior claimant representatives at Allsup. “If we assume that someone’s working career may extend for 30 to 40 years or more, there’s a significant chance of experiencing disability with an injury or severe illness.”
The Social Security Administration (SSA) estimates that up to one-third of Americans are likely to need disability insurance sometime before their retirement years. The Council for Disability Awareness reports that one in three workers have private disability insurance through an employer or private plan. A majority of workers, about 100 million, do not. In addition, nearly 153 million people are insured for Social Security Disability Insurance through their FICA taxes.
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