DISABILITY COVERAGE IS AN UNMET NEED

Thirty percent of 20-year-old Americans will become disabled before they turn 67, yet only 10% of American adults aged 21 and older have personal disability coverage, and only 30% have disability insurance through their employers. In contrast, 73% of these same adults have homeowners or rental insurance, and 88% have auto insurance. While 78% say they would be “devastated” if a disability kept them from earning a living, less than 50% described having their car destroyed in an accident as “devastating,” according to a Northwestern Mutual survey conducted at the end of October. Northwestern Mutual executive Stephen Frankel said, “There is a startling disconnect for Americans who recognize the devastating impact of a disability, yet aren’t doing anything to protect against that risk.”