Disability – The Statistical Truth

Many people approach disability with a “it won’t happen to me” attitude. Not only is this mindset dangerous, but also statistically inaccurate. Studies have shown, for example that the average American worker has a significant chance – at least 30% – of becoming disabled before retirement. Nor does the line of work make a significant difference, as 9 out of 10 disabling accidents, injuries, and illnesses are not work-related. In other words, even people who are employed in “safe” careers face a significant risk of disability.

To make matters worse, many men and women will find themselves disabled for a long period of time. The average disability-related work absence lasts 2.5 years, while 1 in 7 workers will experience a period of disability lasting over 5 years before they reach retirement age.

The Financial Impact

The typical American adult is ill-equipped to deal with the financial stress of a sudden disability. Not only do these unexpected injuries and illnesses rack up high medical bills, but they also cut off the worker’s income due to his inability to work.

As one might expect, disability causes many families to experience severe financial difficulties. One study found that illness and injury contributes to 350,000 bankruptcies every year, while another concluded that disability causes over 50% of all mortgage foreclosures.

Even short-term disability is a serious financial threat; the vast majority of American households do not have the cash reserves to deal with an emergency, and even fewer have the resources to handle the pressure of a long-term illness or injury.

Learn More

A disabling injury happens in the United States every two seconds. If you would like to learn more about dealing with the financial impact of a long-term disability, contact the Indianapolis disability lawyers of the Hankey Law Office at (800) 520-3633.