Wellington Estates is proud to endorse Disability Insurance Awareness Month, spearheaded by The Council for Disability Awareness (CDA).
The CDA is a national non-profit organization, which aims to heighten awareness among Americans about the importance of income protection.
If you rely on your primary income alone, you’re at a great risk of taking a loss at a time of disability, with happens more often than you think. Additional streams of income are important and each person’s situation is unique. Regardless, a responsible plan, according to the CDA, also includes getting income insurance.
Why we Need a Month for Disability Insurance Awareness
51,000,000 households in America don’t have any disability insurance other than Social Security, says the American Council of Life Insurers.[1] That’s a lot of people who need to become more aware about the importance of income insurance.
The reason that income insurance is so important when it comes to disability lies in its numbers and impact.
The Numbers
According to the CDA, 5.6% of workers face short-term disability. And a quick look at the CDA’s website shows over 1,785,400 of “total working-age Americans who have experienced a disabling injury or illness: in 2018.”
The Impact
When it comes to impact, disability plays a major role as well. Here are some bankruptcy figures for 2014:
- Injury in the family accounted for 15%
- Job loss made up 20%
- Medical bills were responsible for 26%
That’s 61% of bankruptcy in total!
So, take a moment this Disability Insurance Awareness Month and learn more about the importance of income protection, by visiting realitycheckup.org.
Do you have income insurance?
Please share in the comments below.
[1] http://disabilitycanhappen.org/public_html/wp-content/uploads/2018/04/The-CDA-RealityCheckup-Media-Kit.pdf