As a health, life, and disability insurance agent covering Raleigh, Durham, and the surrounding areas, I meet regularly with small business owners. Many of these small business owners do not own disability insurance. Here are some stats from the Council of Disability Awareness:
1. Over 36 million Americans are classified as disabled; about 12% of the total population. More than 50% of those disabled Americans are in their working years, from 18-64.
2. The average long-term disability claim duration is 31.2 months.
3. One in eight workers will be disabled for five years or more during their working careers.
4. Medical problems contributed to 62% of all personal bankruptcies filed in the U.S. in 2007, a 49.6% increase over results from a similar 2001 study.
5. The average SSDI monthly benefit payment was $1,190 for males, and $928 for females.
6. Less than 5% of disabling accidents and illnesses are work related. The other 95% are not, meaning Workers’ Compensation doesn’t cover them.
To my small business owner friends: Can you afford to go 31.2 months without a paycheck? Can you support yourself and your family on about $1000 a month? If the answer is no to either of these questions, please talk to me about disability insurance. Its not as expensive as you might think and there's even a disability plan which will refund all your premiums if you don't use it. Your ability to earn an income is your largest asset - make sure its insured.
Please call me at 919-943-5577, e-mail me at email@example.com, or visit my site at www.healthinsuranceraleighnc.com.