Did you Know?
In the last 10 minutes, 498 Americans became disabled!
id you know that July 26th is the anniversary of the Americans with Disabilities Act? On July 26, 1990 the Americans with Disability Act was signed into law guaranteeing equal opportunity for people with disabilities in public accommodations, commercial facilities, employment, transportation, state and local government services and telecommunications.
Did you know that people with disabilities constitute the nation’s largest minority group, and is the only group any of us can become a member of at any time? Approximately 54 million Americans have at least one disability making them the largest minority group in the nation. The Americans with Disability Act provides equal protection and equal opportunities under the law. It is comforting to know that we have equal protection under the law if we are or if we become disabled. But what would happen to you financially if you became disabled? Did you know that 71% of Americans are living paycheck to paycheck ?
You might think “a disability is not going to happen to me”, well according to the Social Security Administration (January 31, 2007 Fact Sheet) 3 in 10 workers (30%) entering the work force today will become disabled before retiring! In the United States a disabling injury occurs every 1 second, a fatal injury occurs every 4 minutes1. Are you comfortable with those odds? If you are, you may be one of the fortunate ones. Or you might think, “I may become disabled but workers compensation will take care of me”; did you know that approximately 90% of disabling accidents and illnesses are not work related1?
Since 90% of disabling accidents and illnesses are not work related, where will the money come from if you are unable to work? The government? The California State Disability Income (SDI) plan could help but will it provide you with all the income you need. An individual’s weekly benefit amount is approximately 55% of earnings (up to a maximum benefit amount). Individuals may receive up to a maximum of 52 weeks’ worth of disability insurance benefits. For information on the most up-to-date rules and guidelines for SDI you can visit the Employment Development Department of the state of California
If you are not one of the 71% of Americans living paycheck to paycheck, perhaps you can live on 55% of your salary for 52 weeks. But how many paychecks can you afford to miss? Did you know that the average long-term disability lasts 2.5 years ? While SDI and private savings may help, you may need additional help. Most of us need help at some point in our lives. Do you want that help to come from your family and friends, or do you want to help yourself and prepare for the unexpected?
You can help yourself by preparing for the unexpected and purchasing disability income insurance. Did you know that some disability income plans are guaranteed acceptance? Did you know that CSEA offers numerous disability income plans? To learn more about the plans available visit our Insurance page
1. National Safety Council, Injury Facts 2008 Ed.
2. American Payroll Association, “Getting Paid in America” Survey, 2008
3. Commissioner’s Individual Disability Table A