The Need for Disability Insurance

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A lot of people are worried about what would happen in the event they were unable to work. In fact, the inability to work due to an accident or illness is something that frightens many people and is the main caused for the need for disability insurance. Statistics show that becoming disability prior to age 65 is a real possibility for large percentage of working people and one out three of them will be disabled by their mid-fifties.
As you know the older you got, the more likely it was that you would become injured or sick and unable to work. The below is the statistic report of the industry advisory committee for individual health insurance policies provided by national association of insurance commissioners.

Lives disabled in one year per 100,000 active lives exposed
Age disability
1. Age of 22 to 26
Out of 100,000 participants 3923, 664, 75, 51, 27, 16 are still disabled at the end of 1 , 3 , 6 month(s) and 1, 2, 5, 10 year(s) accordingly.

2. Age of 27 to 31
Out of 100,000 participants 3877, 657, 72, 52, 29, 19 are still disabled at the end of 1 , 3 , 6 month(s) and 1, 2, 5, 10 year(s) accordingly.

3. Age of 32 to 36
Out of 100,000 participants 4372, 778, 91, 63, 39, 26 are still disabled at the end of 1 , 3 , 6 month(s) and 1, 2, 5, 10 year(s) accordingly.


4. Age of 37 to 41
Out of 100,000 participants 5029, 981, 119, 87, 45, 38 are still disabled at the end of 1 , 3 , 6 month(s) and 1, 2, 5, 10 year(s) accordingly.

5. Age of 42 to 45
Out of 100,000 participants 5895,1257, 172, 129, 85, 60 are still disabled at the end of 1 , 3 , 6 month(s) and 1, 2, 5, 10 year(s) accordingly.

6. Age of 46 to 52
Out of 100,000 participants 6918,1676, 283, 219, 148, 105 are still disabled at the end of 1 , 3 , 6 month(s) and 1, 2, 5, 10 year(s) accordingly.

7. Age of 53 to 56
Out of 100,000 participants 8158 , 2239, 463, 372, 260, 178 still disabled at the end of 1 , 3 , 6 month(s) and 1, 2, 5, 10 year(s) accordingly.

8. Age of 57 to 61
Out of 100,000 participants 9816,3110, 842, 707, 501, 328 still disabled at the end of 1 , 3 , 6 month(s) and 1, 2, 5, 10 year(s) accordingly.

9. Age of 62 and beyond
Out of 100,000 participants 11737, 4420, 1491, 1286, 910, 558 still disabled at the end of 1 , 3 , 6 month(s) and 1, 2, 5, 10 year(s) accordingly.

I hope this information will help. If you need more information of the above subject, please visit my home page at:
http://disabilityinsurance17.blogspot.com/
http://lifeanddisabitityinsuranceunderwriter.blogspot.com/
http://businessdisabilityinsurance.blogspot.com/