Even Super Women Need DI
Posted By: 
Wednesday, November 12, 2014

It’s very possible that nearly half of today’s workforce is operating under a fairly pervasive and potentially harmful myth: that they can do it all—from being the primary breadwinner to baking cupcakes for the second grade class—without ever missing a beat.

While it’s true that women have been proving for decades that they can indeed “bring home the bacon and fry it up in a pan,” the concept of the “supermom” or “super woman” may be inadvertently clouding their collective judgment when it comes to protecting paychecks with disability insurance. Women may be major breadwinners, but they’re not lining up in droves to get disability insurance.

Women make up nearly half of the US workforce (47%), according to Pew Research, and a significant portion of them earn all or the majority of the family’s income. According to a study by State Farm Center for Women and Financial Services at The American College, there’s a disturbing lack of concern regarding DI.

The misconception: Of 1600 female respondents, more than half believe that their chances of becoming disabled are less than 5%.

The reality: A typical female, age 35, 5’4”, 125 lbs., non-smoker, who works mostly an office job, with some outdoor physical responsibilities, and who leads a healthy lifestyle has a 24% chance of becoming disabled for 3 months or longer during her working career.

There’s also a lack of awareness. It’s possible that the outreach done for DI isn’t reaching women, or that it’s not appealing to their sense of urgency for some reason because a stunning 86% of respondents in the State Farm study failed a simple six question quiz about disability risk. In addition, only 3% knew that arthritis is the leading cause of disability in the US. According to the CDC, an estimated 50 million US adults live with some form of arthritis.





 
 
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