U.S. consumers may have a reputation for obliviousness, but they are more aware of disability risk than financial advisors generally recognize.
Analysts at the Council for Disability Awareness (CDA), Portland, Maine, present data supporting that conclusion in a summary of results from a recent survey of 1,267 individual and group financial advisors and a related survey of several hundred consumers.
The risk that a consumer will spend some time coping with a disabling condition while of working age is 1 in 4, but consumers think the risk is only about 1 in 10, CDA analysts say.
But the CDA has found that 83% of consumers agree that disability “can happen to anyone at any time.”