DI Watch: Latest stats

The Council for Disability Awareness recently released their 2011 report on DI industry activity and claims experience.  Thought you might find it of interest:

• 43% of  DI carriers participating in the study reported increased claim incidence from 2010 to 2011
• 662,000 disabled individuals received long term disability insurance payments from CDA member companies that participated in the 2011 study. 
• Long term disability claims have increased in each of the past 4 years
• During 2011 43% of approved claims were for men and 57% were for women
• The percentage of claims for women has slowly increased in the past two years
• More than 95% of reported CDA member company disability claims were NOT work-related in 2011

For the full report go to:  http://www.disabilitycanhappen.org/research/CDA_LTD_Claims_Survey_2012.asp

The question I have – and that you should be thinking about regarding your own policy holders and accounts – is how many of ALL those who became disabled in 2011 were ever informed of the risk by the financial professionals  they work with before they were disabled?  It’s not that difficult to ask your people, “How would you get by if…?”.