PART I
No one likes to think about the possibility of their own disability or the disability of a loved one. However, as we’ll see below, the statistics are clear that we should all plan for at least a temporary disability. I will discuss the eye-opening statistics surrounding disability and in future postings some of the common disability planning options. Disability planning is one area where we can give each and every person and family we work with great comfort in knowing that, if the day comes for themselves or a loved one, they will be prepared.
Most Individuals Will Face At Least a Temporary Disability
Study after study confirms that nearly everyone will face at least a temporary disability sometime during their lifetime. More specifically, one in three Americans will face at least a 90-day disability before reaching age 65 and, as the following graph depicts, depending upon their ages, up to 44% of Americans will face a disability of up to 4.7 years. On the whole, Americans are up to 3.5 times more likely to become disabled than die in any given year:
Age %Disabled Average Duration
25 44% 2.4 years
30 42% 3.2 years
35 40% 3.4 years
40 37% 3.9 years
45 33% 4.2 years
50 28% 4.7 years
Many people fear what will happen to them if they become disabled. Discussing options and planning early, while capacity is not an issue, will help bring peace of mind and alleviate some of the fear surrounding this issue. My office has been providing services related to planning for disability for many years. There are numerous options and my efforts are focused on finding the right fit for the client.
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