Female Entrepreneurs and Professionals Lack Disability Insurance

Women are most at risk both physically and financially when it comes to disability, according to a new study released by The State Farm® Center for Women and Financial Services at The American College.

Data from Centers for Disease Control and Prevention (CDC) shows women are increasingly more likely to experience a disabling condition during their working and senior years. Arthritis, the leading cause of disability among adult Americans, is more than twice as likely to affect women as men. The incidence of disability for females has risen at a disproportionate rate relative to males, according to data from the Social Security Administration.

Employer-sponsored plans are the most common means of disability insurance, however less than half have this benefit with women less likely than men (45 percent vs. 51 percent) to be covered. Female entrepreneurs are at even greater risk.

Another survey released by The American College in January 2012, focused on small business owners, found that only 22 percent of women small business owners own, and offer their employees, short and long-term disability coverage.

Even when professionals have disability insurance, a commonly held myth is that the insurance policy will cover all conditions and health care costs. The truth is that even when you have disability benefits, the insurance company may try to deny or discredit valid claims.

Read more about Women and the Risk of Disability.

Fort Lauderdale Disability Lawyer for Professionals

If you are a business professional who has suffered an unexpected disability through illness or injury, contact Fort Lauderdale disability lawyer Howard Kahn if your disability benefits are at risk. We can help you understand and protect your legal rights to disability benefits. Contact us onlineor by phone at 954-321-0176.