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Disability on the Rise:
New Resources Available to Help Consumers Understand Disability and Better Prepare
PORTLAND, Maine. – October 31, 2006 – Studies show that three out of every 10 workers between ages 25 and 65 will experience an accident or illness that keeps them out of work for three months or longer, potentially leading to unmanageable debt, the inability to save for retirement or even personal bankruptcy. To help wage earners learn more about the realities and consequences of becoming disabled, and help them plan accordingly, the Council for Disability Awareness (CDA) launched a comprehensive Web site.
“Disability is more common than people think. It is a real and growing threat to the financial security of American families,” said Robert Taylor, Executive Director of the Council for Disability Awareness (CDA). “Preparing for disability – just like you would plan for any other family financial need such as your retirement or college expenses is critical. Losing your income because of a disability can drain your family’s savings and jeopardize your financial security.”
Most people associate disability with accidents or workplace injuries. But the reality is that long-term disabilities are primarily caused by illnesses such as cancer, heart disease and diabetes. Arthritis, obesity and back pain are also significant causes.
CDA’s Web site, found at disabilitycanhappen.org is one component of the Council’s new public awareness campaign. The campaign hopes to empower the working public with the knowledge of the growing likelihood of disability and the potential financial hardships faced by those who become disabled. The new CDA Web site includes facts and figures about disability, real life stories and tips for a healthy lifestyle.
“Recent studies indicate that few Americans have adequate savings, and over half of all households are living paycheck to paycheck,” continued Taylor. “Now more than ever, Americans need to do a better job of planning their financial security in the event a disability impacts their livelihood.”
To help families plan for the financial consequences of disability, CDA encourages them to complete a financial review, available on the CDA Web site. The review will help families estimate what their income and expenses might look like during a disability and provide them with a guide for developing a specific action plan.
About the Council for Disability Awareness (CDA)
The Council for Disability Awareness (CDA) is a non-profit group dedicated to helping the American workforce become aware of the growing likelihood of disability and its financial consequences. The CDA engages in communications, research and educational activities that provide information and helpful resources to wage earners, their families, the media, employers and others who are concerned about disability and the impact it can have on wage earners and their families.