You are more likely to become disabled than to die before age 65, yet only 35% of Americans have disability insurance. This coverage gap leaves millions one injury or illness away from financial ruin.
The Statistics
- 1 in 4 workers will experience disability before retirement
- Average disability lasts 2.5 years
- Social Security Disability: average $1,537/month (below poverty)
- Private disability insurance: replaces 60% of income
What It Costs
Individual disability insurance costs 1-3% of annual income. A $75,000 earner pays $75-225/month for coverage that would replace $3,750/month if disabled. Group policies through employers are often cheaper but less portable.
