Women and disability risks
One of the biggest financial risks that people face is the risk of becoming disabled and not being able work for a considerable time. The Social Security Administration estimates that one in four of today’s 20-year-olds will be disabled before they retire.
In 2005, 47.5 million adults (22{030251e622a83165372097b752b1e1477acc3e16319689a4bdeb1497eb0fac93} of all adults) reported a disability.
Women are more likely to be disabled than men.
Work related injuries represent less than 5{030251e622a83165372097b752b1e1477acc3e16319689a4bdeb1497eb0fac93} of disabilities. According to the CDC (Centers for disease control) the primary problems are musculoskeletal disorders, and the number one cause is arthritis followed by back & spine problems. Women are twice as likely to be disabled by arthritis as men.
Disability insurance is something that every working person should consider.
Written By ARIE J. KORVING, CFP®
Arie J. Korving, a CERTIFIED FINANCIAL PLANNER™ professional, has been delivering customized wealth management solutions to his clients for more than three decades. Prior to co-founding Korving & Company, he was First Vice President with UBS Wealth Management and held management positions with General Electric.
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