A Few Things Everyone Should Know About Disability
Did you know? One year of disability can wipe out 10 year's worth of savings.
Other interesting things to know about disability:
- 7 out of 10 people between the ages of 35 and 65 become disabled for three months or longer.
- The average length of disability lasting longer than 90-days is 36 Months.
- Most American families have only enough money in savings to cover two months worth of bills.
- In 2000, wage and productivity losses from unintential injuries was $259.8 billion (Statistical Abstract of the US: 2002)
- The maximum Social Security disability payment for 30-yr old earning $70,000 per year is just $1600 per month.
- To be eligible for Social Security disability, your disability must last at least 12 months.
- Social Security Disability will only pay an approved claim after a minimum of 5 months have passed.
So if you suddenly become disabled... how would you pay your bills?
What is disability?
The Random House Webster's Dictionary of American English defines disability as:"Lack of adequate strength or ability; incapacity; a physical or mental handicap; anything that disables or puts one at a disadvantage"
The Social Security Administration defines disability this way:"The inability to engage in any substantial gainful activity by reason of any medically determinable physical or mental impairment which can be expected to result in death or has lasted or can be expected to last for a continuous period of not less than 12 months." Emphasis Added
Simply put: Disability generally means that you are unable to work. And Social Security Disability means you are unable to work at anything.
Disability can happen at any time, to anyone - regardless of race, religion, gender or profession.
Sometimes people become disabled dur to injuries received in a car accident. And sometimes it's a simple matter of getting hurt while participating in sports, or improving your home in your off hours.
A very common injury that can cause you to become unable to work, is a back injury. And back injuries can happen simply by moving furniture, working in a garden, or fixing a leak in your roof.
Other people become unable to work due to an illness or the onset of a disease: Like diabetes, stroke, or heart attack. And even pregnancy can cause some females to become unable to work: If the pregnancy develops other complications that require the woman to stay in bed, she is unable to work.
This Can Happen to You Too.
Unfortunately, people often assume that just because they're healthy, they can't become disabled. And that's simply not true. Accidents happen. So being healthy doesn't usually have anything to do with whether you become disabled.
Let's look at some undeniable facts:
- In 2000, wage and productivity losses from unintentional injuries was $259.8 billion (Statistical Abstract of the US: 2002)
- In 1999: 338,000 people were injured in a fall
- In 1999: 141,000 people were injured due to overexertion
- In 1999: 338,000 people experienced sprains and strains
And just a few of the ways these injuries happened included:
- Hand and power saws
- Kitchen flatware
- Rugs and Carpets
- Swimming Pools
If you'd like to know more about disability and various ways you can protect yourself and your family, read the rest of this report online.
© 2004, Kathy Burns-Millyard. This article is provided courtesy of Electronic Perceptions Marketing - You may freely reprint this article on your website or in your newsletter provided this courtesy notice and the author name and URL remain intact.
Online Insurance: The End Of The High Street Broker?
When I was a lad, some 25 years ago, the Insurance Company called to your door every month to collect your life insurance premium. My recollection is of a drab suited man having to run the gauntlet of neighbourhood dogs rather like the postman.Then through the eighties more and more people found their wages being deposited directly into hastily set up bank accounts; this led to the standing order for paying all sorts of regular bills including insurances and heralded the demise of the door to door representative. An economy quickly realised by big insurance companies in the UK.Then during the nineties big firms latched on to the idea of "direct" which is a handy abbreviation for cutting out the ...(related: Insurance)
The Immorality Of Guarantee Issue Health Insurance
While there are genuine debates about whether privatized health insurance or nationalized health insurance policies make more sense, there can be little doubt that gua...(related: Insurance)
Guide To Car Insurance
Here is a useful guide to car insurance. Buying car or motor insurance is important as it is legally enforced in the UK . You are required by law to have a policy to cover your liability to other road users.Car Insurance protects motorists and drivers against liability in the event of accidents they may cause. It can also provide cover for the motorist's own ve...(related: Insurance)
A Few Things Everyone Should Know About Disability
Did you know? One year of disability can wipe out 10 year's worth of savings.Other interesting things to know about disability:- 7 out of 10 people between the ages of 35 and 65 become disabled for three months or longer.- The average length of disability lasting longer than 90-days is 36 Months.- Most American families have only enough money in savings to cover two months worth of bills.- In 2000, wage and productivity losses from unintential injuries was $259.8 billion (Statistical Abstract of the US: 2002)- The maximum Social Security disability payment for 30-yr old earning $70,000 per year is just $1600 per month.- To be eligible for Social Security disability, your disability must last at least 12 months.- Social Security Disability will only pay an approved claim after a minimum of 5 m...(related: Insurance)
Eleven Money-saving Auto Insurance Tips For Senior Drivers
Following a few simple tips and taking these measures will ensure that you are getting the lowest rates possible on your auto insurance policy.1. Avoid more Accidents, Pay Close Attention at Intersections. Auto accidents involving seniors often occur at intersections. Make sure to look ahead if you plan to quickly change lanes after an intersection. Pay attention to protected left turn lanes with their own arrows, and always keep your tires pointed straight ahead when stopped, so that a rear-end accident doesn't push you into oncoming traffic.2. Follow the flow of traffic, Drive at the at or near the speed limit. Driving too slowly can be just as dangerous as speeding, especially when entering or exiting interstates or freeways. It can also trigger dangerous "road rage" in less pat...(related: Insurance)
Are You Overpaying On Your Home Insurance Policy?
For many consumers the cost of daily living is becoming increasingly higher. High gas prices, rising automobile costs and the cost of buying a new home can be very troublesome. The additional cost of homeowners i...(related: Insurance)
Shopping Options For Auto Insurance
Shopping for car insurance can be a big undertaking. It can be daunting at times but is very important. There are now many ways to get yourself insured and the coverage you need.Smart customers know it pays to do a little research before buying car insurance. Just based on the price of the insurance rates today, why not take the time to...(related: Insurance)
Homeowners Insurance At A Glance
At first glance, homeowners insurance may seem perplexing and quite overpowering. Understanding your policy is crucial to know what you are actually purchasing, and also an extremely important part of owning a home. A homeowners insurance policy provides financial security against disasters, as well as insures the home and the possessions kept within.A basic homeowners insurance plan consists of four major types of coverage. These include: Home structure, coverage for personal belongings, liability protection, and living expenses in the event you cannot reside in your home as a result of...(related: Insurance)
State Farm Auto Insurance ? Heres A Few Factors That Determine Your Rate
There are many factors that affect the insurance rate you receive from State Farm Auto Insurance. Various types of coverage are available depending on the price of the vehicle you buy. If you purchase a used vehicle and you don't want or need full coverage, then State Farm Auto insurance will be able to give you a much lower rate than if you have a new expensive vehicle that you are paying out through the bank or finance company.Some of the factors that determine the best auto insurance rate you get from State Farm Auto Insurance include:· Your age. If you are under the age of 25, you will have to pay more for insurance than someone who is older. Most auto insurance companies give a discount for drivers over the age of...(related: Insurance)
Choosing Buy-to-let Property Insurance
Risk is an area often overlooked by landlords, but failing to protect the main assets of your business, which often have borrowings secured against them could lead to ruin.Landlords often...(related: Insurance)
Useful Tips On Reducing Insurance Costs
Most people want lower insurance costs but are often too lazy to do anything about it. All it takes is a little time and effort and you could be looking at a reduced insurance premium.Here are some useful tips on reducing insurance costs:Shop AroundAlthough it may sound an obvious thing to do, you will be surprised at how many people just renew their policy without comparing prices. It'll take some time, but could save you a good sum of money.Check consumer guides, insurance agents and online insurance quote services. Ask friends what they are paying for their policies. This will give you an idea of price ranges and tell you which companies have the lowest prices. But don't cons...(related: Insurance)