Did you know that if your income stops, so does all contributions to your 401(k) plan? Were you aware that the responsibility of your retirement funding is shifting to you, the individual, in these times of financial insecurity? Do you know what the chances are that you might need to rely upon worker's compensation for a disability that happens before you are old enough to take retirement? According to a paper written by the Council for Disability Awareness (CDA) entitled "Worker Disability: A Growing Risk to Retirement Security", these questions cannot be answered positively by most people. In fact, according to the paper, most people are generally unaware of their chances for becoming disabled and the consequences it may bring, whether due to an unexpected illness or accident.

The paper warns of the financial insecurity of workers and quotes that three in every ten workers in today's workforce will experience a serious disability before retirement. While it may seem that worker's compensation and disability benefits may carry them through a disabling situation if one should happen, most people don't think about the fact that their income would completely stop, but their bills would not. In fact, their bills will increase due to illness or injury. According to the paper, the incidence of disabled workers has grown by an amazing 35 percent since the year 2000, and a whopping six in ten workers have not discussed how they would pay their bills once their income was taken away or extremely limited.

The paper by the CDA estimates that nearly 90 percent of workers underestimate their chances of disability, forgoing financial planning that could help prepare them in this almost inevitable situation. Meeting with a qualified financial advisor for sound financial planning can educate workers on their choices, from worker's compensation and social security disability insurance, to long-term disability plans, and employer's sick pay.

The CDA encourages financial planning for all workers to educate and prepare them for the likely loss of income, as well as the additional expenses that would fall to them, in the case of disabling illness or injury.