Disability is frightening—so frightening that you might not want to think about it all. Sticking your head in the sand won’t make reality any better, though, so you might as well face the facts. Here are 10 scary truths about disability.
- Disabilities are incredibly common. In fact, one in five Americans have some form of disability. That’s 56.7 million people. (S. Census Bureau)
- Having a disability has a significant effect on your income. For adults between the ages of 21 and 64 who have a disability, the median monthly income is only $1,961. For adults in the same group who don’t have a disability, the median monthly income is $2,724. (S. Census Bureau)
- Having a disability has a significant impact on your ability to work. In 2015, 78.3 percent of people between the ages of 21 and 64 in the United States without a disability were employed, but only 35.2 percent of those with a disability were employed. (Disability Statistics based on American Community Survey)
- People with disabilities are more likely to be poor. In 2015, 11.6 percent of people without a disability were living below the poverty line in the United States. For people with a disability, that figure jumped to 27 percent. (Disability Statistics based on American Community Survey)
- Most Social Security disability claims are denied. Between 2001 and 2010, the average final approval rate was 45 percent. (Social Security Administration)
- Many successful Social Security disability claims have to go through an appeals process before being approved. In 2010, only 23.3 percent of claims were given an initial award. (Social Security Administration)
- You won’t necessarily qualify for Social Security disability benefits just because your doctor says your disabled. The Social Security disability benefits are based on very strict criteria. (Social Security Administration)
- After submitting a Social Security disability claim, you can expect to wait three to five months for an initial response. During this time, you may have no source of income. (Social Security Administration)
- Most people understand that a disability would negatively affect their lives. According to a survey, 78 percent of Americans say they would be devastated if a disability prevented them from working. (DisabilityCanHappen.org)
- Most people are not prepared for a disability. Despite understanding the devastating effects of a disability, only 10 percent of Americans have purchased an insurance product to protect themselves against the possibility. In comparison, 24 percent of Americans purchase insurance products to protect themselves against cancelled vacations. (DisabilityCanHappen.org)
Would you be able to handle a disability that prevented you from working? If not, learn more about how income protection works and get an instant, real-time individual disability insurance quote today.