RSSClaims Experience
No one expects to become disabled, yet it happens every day and usually without warning. Having disability insurance is an effective way to protect your lifestyle in the event you are no longer able to earn and income.
What injuries and illnesses account for the most disability claims?
Below is a breakdown of the types and relative prevalence of disabilities drawn from RBC Insurance open disability insurance claims at the end of 2006.
Disability can affect anyone at any age, any time.
Disability affects people of all ages. While the figures in the following charts suggest that a higher proportion of people aged 50-59 become disabled, this group also represents the highest proportion of disability insurance policyholders. It’s generally assumed that more people become disabled as they age, yet surprisingly almost one in five individual claims and one in four group claims are made by individuals under age 40. That’s all the more reason to consider disability insurance — no matter what you age.
|
Individual Disability Insurance Claims |
|
|
Age disability occurred |
Percentage of claimants |
|
under 40 |
17% |
|
40-49 |
34% |
|
50-59 |
39% |
|
60 plus |
10% |
|
Group Long Term Disability Insurance Claims |
|
|
Age disability occurred |
Percentage of claimants |
|
under 40 |
26% |
|
40-49 |
33% |
|
50-59 |
36% |
|
60 plus |
5% |
Disabilities don’t distinguish between gender, age or occupation.
|
Occupation |
Gender |
Year of claim |
Age at claim |
Cause of claim |
Claim paid to date |
|
Accountant |
Male |
1994 |
47 |
Brain tumour |
$458,416 |
|
Biologist |
Male |
2001 |
45 |
Schizophrenia |
$242,366 |
|
Commercial artist |
Female |
2003 |
35 |
Retinal disorder |
$68,000 |
|
Computer programmer |
Female |
1997 |
41 |
Brain injury |
$216,105 |
|
Dentist |
Male |
1994 |
37 |
Rheumatoid arthritis |
$1,375,700 |
|
Draftsman |
Male |
2004 |
54 |
Parkinson Disease |
$78,300 |
|
Electrician |
Male |
2003 |
56 |
Respiratory disease |
$38,885 |
|
Executive |
Female |
1989 |
33 |
Multiple sclerosis |
$635,529 |
|
Farmer |
Male |
2004 |
25 |
Spinal cord injury |
$102,725 |
|
Family physician |
Female |
1989 |
33 |
Multiple sclerosis |
$635,529 |
|
Painter |
Male |
2000 |
31 |
Sever arthritis, both knees |
$147,900 |
|
Photographer |
Male |
2003 |
51 |
Sever injury, both wrists |
$85,104 |