95+ Disability Insurance Statistics & Facts For 2021
Becoming disabled isn’t what most of us are thinking about; however, it’s definitely a possibility, and unfortunately a high majority of us aren't prepared mentally or financially for a short or long term disability. We will cover disability insurance statistics as well as general disability statistics for 2021.
Top Disability Insurance Statistics:
TABLE OF CONTENTS
U.S. Disability Insurance Facts
Disability Can Happen To Anyone
Disability Claims Statistics
U.S. Disability Unemployment Rate
2019 General Disability Statistics
Disability Insurance Facts For Working Americans
Why Are So Many Workers Without Disability Insurance?
Around 51 million working adults in the U.S. don’t have disability insurance because they usually don’t understand precisely how it works. Over 375,000 Americans become totally disabled each year, and over 8 million adults have a disability that prevents them from working. We have to do a better job of securing disability insurance.
Disability Can Happen To Anyone At Anytime
What Are Your Chances of Becoming Disabled?
1 in 4 of today’s 20 year olds can expect to be out of work for at least a year because of a disability. If you are 35, you have a 50 percent chance of being disabled for 90 days or longer before you turn 65. Around 30% of working Americans between ages 35 - 65 will suffer a disability that will last for 90 days during their career. Honestly, the chances are high.
Chances Of Becoming Disabled By Age
Average Length Of Disability By Age
Long Term Disability Vs Death By Age (Odds)
Disability Claims Statistics
What Are The Most Common Disability Claims?
The most common reason for a short-term disability claim is pregnancies at 25%. For long-term disability claims, Musculoskeletal disorders at 29%. In the Military, the most common claim is for Tinnitus.
The Most Common Reasons For Short-term Disability Claims Are
The Most Common Reasons For Long-term Disability Claims Are
What Are The Most Common Military Disability Claims?
The most commonly claimed disability for all Veterans is Tinnitus which is rated automatically at 10%. 93.6% of Veterans were rated at 10% for this claim since there is no lower rating for Tinnitus; it’s either 10% or nothing according to 2019 disability claims data.
10 Most Common Disabilities for Veterans?
Disability Unemployment Rate In U.S.
What Is The Unemployment Rate For People With Disabilities?
7.3% was the unemployment rate for people with disabilities in 2019 according to the Bureau of labor Statistics. This was a small decrease from 8% that was reporting in 2018. However, people with a disability are still 2 times likely to be unemployed compared to people without a disability.
What Percent Of Individuals With Disabilities Are Employed?
19.3% of people with disabilities were employed in the U.S. in 2019 which isn’t much change from 2018 with 19.1 percent.
Disability Employment Statistics (By State)
Disability Employment Rate
General 2019 Disability Statistics
If you have read even 1 of these disability statistics then you know that this doesn't look good for us, it is super easy to think that nothing is going to happen to us; however, the numbers just don't lie.
The stats show that we are all underestimating our ability to become disabled and because of that, we aren't prepared for any of the financial realities when we actually become disabled.
Obtaining some type of long-term disability insurance is essential to our overall financial survival .
While getting insurance is the best way to avoid financial hardship, there is help and aid available to those with long-term disabilities like these freebies for cancer patients.