Here is a staggering statistic to consider: There is a 33% chance of death or disability in the workforce.
Social Security is widely recognized for its role in providing retirement benefits, but its scope extends far
beyond this. For many individuals, Social Security offers critical support in the form of disability
insurance, which is a crucial aspect of the program. This is especially pertinent for younger workers who
might not yet be thinking about retirement but could face significant challenges earlier in life. A young
person embarking on their career today faces a roughly 1 in 3 chance of either dying or qualifying for
Social Security Disability Insurance (SSDI) before reaching the full retirement age. This statistic
highlights the importance of SSDI as a safety net for those who encounter serious health issues before
retirement.
SSDI is an earned benefit designed to protect workers who contribute to the program through payroll
taxes. It is not just a retirement program but a vital insurance policy against severe and long-lasting
medical impairments. As of now, 161 million workers have earned SSDI protection, and approximately
7.3 million people receive disabled-worker benefits from the program. The importance of SSDI becomes
evident when considering the substantial number of individuals who rely on it for financial stability during
times of disability.