The majority of Americans lack basic knowledge about the likelihood of a disability and are unprepared to handle this kind of life-changing event. These gaps put families and financial futures in jeopardy, according to a new study released today by The State Farm® Center for Women and Financial Services at The American College.
The risk of becoming disabled during one's lifetime is higher than most people realize, particularly for women. The U.S. Social Security Administration estimates that one in four of today's 20-year-olds will become disabled before they retire. Data from the Centers for Disease Control and Prevention (CDC) shows that women are increasingly more likely to experience a disabling condition during their working and senior years. The study from The State Farm Center for Women and Financial Services at The American College found a majority of Americans (97 percent) do not know arthritis is the leading cause of disability and few (20 percent) are aware of women's increased risks. In fact, more than 30 percent of survey respondents believe accidents are the leading cause of disability.
(from the press release)