The United States Social Security Administration publishes social security facts and figures every year. We've highlighted some very important facts from their 2019 sheet that allude to the importance of having private disability insurance these days and in the near future:
-Just over 1 in 4 of today's 20-year-olds will become disabled before reaching age 67.
-67% of the private sector workforce has no long-term disability insurance.
-In 1940, the life expectancy of a 65-year-old was almost 14 years; today it is just over 20 years.
-By 2035, the number of Americans 65 and older will increase from approximately 56 million today to over 78 million.
-There are currently 2.8 workers for each Social Security beneficiary. By 2035, there will be 2.3 covered workers for each beneficiary.
Feel free to download the PDF above to share, or visit the Social Security Basic Facts 2019 webpage directly here.