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The State of Disability Today
Statistical Findings by The Council for Disability Awareness
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In a recent presentation by the Council for Disability Awareness, a non-profit organization with the goal of educating the public about disability and how to prepare for it financially, President Barry Lindquist shared some important statistics. The overwhelming message was that workers are unprepared for the risks posed by disability. Below are some of his most poignant statistical data.
According to a study by the Social Security Administration, 1 in 4 of today's twenty-year-olds will become disabled before they retire.
12% of Americans are classified as disabled, while only 5% of Americans are eligible to receive Social Security Disability Insurance (SSDI) Benefits. 65% of initial SSDI claim applications were denied in 2009. From 2008 to 2009, SSDI recipients incresed by 21%. The main factors contributing were the poor economy and high unemployment rate and America's aging working population.
The average long-term disability claim duration is 31.2 months.
More than 1 in 5 workers will be disabled for 5 years or more during their working careers.
Approximately 95% of disabilities are caused by illnesses rather than accidents. 60% of adult Americans have no savings earmarked for emergencies.
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