Disability insurance need rapidly growing in the workplace, study

Taxi Driver Disability Insurance

The results of recent research are underscoring the importance of employer sponsored coverage. A new study’s results were issued this week and have highlighted the importance of disability insurance that is sponsored by employers when it comes to the health and financial wellbeing of American workers. It showed that only one in three private sector employers is currently offering long term disability coverage. Despite the fact that this is the case, the Social Security Administration’s own data suggests that one in every four workers in the United States will need…

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Disability insurance benefits collected from Social Security in record numbers

Disability Insurance benefits US workers

Official predictions for this month are that 8.82 million people are collecting. The Social Security Administration has just released their figures regarding the number of people who are collecting disability insurance from the program, and what they have found is that a record breaking number of people are currently collecting from the program. In fact, in December, 8.82 million people were recorded to have been receiving benefits from the program. This is a notable increase over the 8.80 million who had been collecting disability insurance benefits in November. Those who…

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Disability insurance struggles arising from application increase

Disability Insurance

As a growing number of Americans seek assistance, the program is facing serious challenges. It is now being estimated that the Social Security Administration’s funds to cover the costs of disability insurance will have been entirely spent in four years’ time. This will mean that the benefits will shrink for over 9 million disabled workers and their families. Income taxes will be providing enough money for only 79 percent of the disability insurance benefit, which will mean that – assuming the same number of individuals remain covered by the program…

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Most U.S. residents want to protect their incomes but don’t have disability insurance

disability insurance

Americans want to be able to protect their financial future, but lack a primary coverage in that plan. A study performed by Northwestern Mutual, called The State of Planning in American, has shown that being able to maintain a certain standard of living is a primary goal among residents of the United States, but few are actually taking the necessary steps, such as purchasing disability insurance, to make sure that their ability to achieve this goal is protected. The top financial goal for Americans is “having a good standard of…

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Employed individuals are finding additional forms of coverage to be increasingly important

Disability Insurance

A study by The Hartford has shown that single workers don’t have the protection they need in case of injury or illness. Standard employer sponsored health coverage is leaving a widening gap in the protection it provides, making disability insurance and other additional support policies much more important to workers. According to the results of new research performed by The Hartford, this is especially true among those who are employed and single. It is these individuals who are least likely to have a financial safety net in case they should…

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The uncontrolled growth of disability insurance

Disability Insurance

An update from the Medicare and Social Security trustees has shown that the cost of disability insurance is skyrocketing. The annual report published by the Social Security and Medicare trustees has shown that yet again, among all of the partisan disagreements, a critically important issue has failed to receive its due attention: the rapidly increasing cost of disability insurance. This coverage accounts for almost one out of every five dollars that Social Security spends, and the numbers are rising to a point that is simply out of control. Many are…

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