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 new survey from Life Happens “What Do You Know About Disability Insurance?”
Many of us in our 20s are filled with hope and optimism about the new jobs we have—or will work into, perhaps finding a partner and starting a family, maybe even buying a home. In short, designing a life “we” want to live, not one that’s been dictated to us. So, it’s not often we contemplate how those dreams could be derailed by an accident or illness that takes away our ability to earn a living and fund our dreams.
Join Life Happens on May 1 at 1E as we moderate a Twitter Chat focused on how important disability insurance is and why this is so critical for anyone who works and relies on their paycheck (and who of us doesn’t). Despite this fact, only 20% of employed Americans say they have disability insurance.
Each year Life Happens and LIMRA join forces to get the latest and greatest information about what consumers are thinking when it comes to their financial concerns as well as what insurance coverages they do or don’t have—and why! And that’s just the start. Here are some of the key findings:
But assuming you’ll rely on a crowdfunding site if tragedy befalls? Which would you prefer during a time of intense stress—a new technology that enables panicked fundraising by your grieving family, or a time-tested financial tool that delivers funds immediately to your beneficiaries in a cash lump sum to pay immediate expenses, such as the funeral and burial, and in addition, all the day-to-day bills and debts that will have to be paid as life continues on.