Why Disability Insurance?

Why Disability Insurance?

PSEA Recognized Pennsylvania Schools Lack Adequate Disability Coverage

The PSEA recognized that Pennsylvania school district employees lack the disability protection they need. In fact, school district employees in most neighboring states are provided with disability insurance coverage that protects 60% of salary (the industry standard). In Pennsylvania, only about a third of districts provide this level of coverage.

Being unable to work due to a disability is one of the greatest financial threats employees can face. It is often more financially disastrous than a death in the family. If you are disabled, you lose your earning power, and you still have living expenses and medical care costs not covered by health insurance.

That’s why the PSEA is pleased to endorse this plan for the teachers and school employees of Pennsylvania.

 

Disability happens more than you might think. What are your odds?

When people think about a disability, they often think of someone in a wheelchair, paralyzed by a freak accident. But disability is often caused by much more common conditions such as arthritis, cancer, pregnancy, and heart disease.

Disability insurance is paycheck insurance

Most people insure their car, their health and even their life. However, almost everything you own is based on your ability to earn income.

If you lost your paycheck because you were unable to work, how would you pay your mortgage, medical bills and medical insurance, debt, childcare, auto payment and other expenses? Disability insurance is paycheck insurance. Are you willing to gamble with your paycheck? Disability insurance is not an “extra”. It is a “must”.

  • One in eight workers will be disabled for five years or more during their working careers.[1]
  • According to the latest U.S. census, more than 30 million Americans between the ages of 21 and 64 are currently disabled.
  • Just over 1 in 4 of today’s 20-year olds will become disabled before retiring.[2]

 

Disability Facts and Statistics

Cornell University Disability Statistics

Council for Disability Awareness

[1] Commissioner’s Disability Insurance Tables A and C, assuming equal weights by gender and occupation class, Council For Disability Awareness

[2] U.S. Social Security Administration, Fact Sheet February 7, 2013

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All benefits are subject to the terms of the certificate of insurance coverage.