This statistic is startling: 7 in 10 employed Americans would feel the financial pinch in a month or less without their paycheck. And when you dig a bit deeper, you find that 1 in 4 working Americans would feel the pinch immediately. These are just some of the findings from the survey Life Happens conducted called “What Do You Know About Disability Insurance?”
The question is, what would happen if these people were sick or injured and unable to work? Only 20% of working Americans say they have disability insurance (The 2018 Insurance Barometer Study by Life Happens and LIMRA). This is a recipe for financial disaster. Let’s get the information out there about how important disability insurance is if you work and rely on your paycheck. Click to tweet these stats below!
[If you use these statistics in any other materials, please source as: Source: “What Do You Know About Disability Insurance?” Life Happens, 2018]
7 in 10 employed Americans (71%) would feel a financial pinch in one month or less without their paycheck. Share on X The majority of employed Americans (58%) know very little or nothing at all about their disability insurance. Share on X More than 1 in 4 employed Americans would first look to their family, partner or friends for financial support if they became disabled and unable to work. Share on X Nearly half of employed Americans (46%) would feel financially burdened in 2 weeks or less without a paycheck. Share on X Employed Millennials are the generation least knowledgeable about disability insurance. Share on X More than 1 in 4 working women (29%) know nothing about their disability insurance. Share on X Only 21% of Millennials would look for financial support from disability insurance if they became sick or disabled and unable to work. Share on X Employed Americans are twice as likely to be knowledgeable about their favorite TV show as they are about their disability insurance (88% vs 41%). Share on X