Workers today are 3 times more likely to suffer a long-term disability than die during their working years (Source: The Council of Disability Insurers, The Long Term Disability Claims Review: 2005) 
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The likelihood of being disabled for more than three months is greater than dying in any given year (Source: Society of Actuaries) READ MORE
Disability Insurance News
March 2, 2007: Retirees Up Against Debt; Disability Proves Financially Devastating
On March 2, 2007, "USA Today" reported that seniors across the nation are struggling with debt, turning to credit cards and home equity to pay medical bills.[1]
The article cited New York think tank, Demos, as saying, "Among 65 and older households, the average amount of credit card debt more than doubled from 1992 to 2004, to $4,907." Most seniors live on fixed incomes, making them vulnerable to crushing debt in the event of an illness or disability. Faced with paying for food, prescriptions and health care on limited budgets, seniors are refinancing homes, cashing out equity, and relying on reverse mortgages and credit cards to cover daily living expenses.
Retirement debt is expected to grow as Baby Boomers enter their retirement years. That's because Boomers and later generations postponed marriage and children, shifting their biggest expenses to later years, compared to previous generations. Careful financial planning, including sufficient emergency funds and insurance protection is critical.
References
- Chu, Kathy. "Retirees up Against Debt as Many Face Hard Choices," USA Today, March 2, 2007. http://www.usatoday.com/money/perfi/retirement/2007-01-22-senior-debt-usat_x.htm