Did You Know?

• Nearly 5 million children under the age of 21 have a disability

• Parents spend on average $4,000 a year on out of pocket medical expenses for their child

• The 2000 US Census counted 2.84 million families that were raising at least one child aged 5-17 with at least one disability

• The 2000 US Census counted 20.9 million families with members with disabilities

• 1 in 240 children in the US have an Autism Spectrum Disorder (ASD)

• In a 2008 study, parents of preschool-aged children, 39% of the parents of ASD children reported that their child care problems had negatively affected their employment decisions

• Nearly one third of families reported that having a child with special health care needs affected the employment of  someone in the family while 17% reported that a family member had to cut back on work hours while 13% reported that a family member quit work entirely to care for their child

• It is estimated that having a child with ASD is associated with an average loss of 14% of annual household income

• 6 in 10 parents believe that their special needs children’s future financial support is a critical challenge

• Parents estimate they spend at least 24 hours a week caring for their special needs children while a third estimated they spend more than 40 hours a week providing care

• Fewer than 10% of parents with special needs children seek financial advice from financial professionals

• Over half of parents with Life Insurance coverage have named their special needs children as beneficiaries, not realizing that doing so may disqualify their children from receiving government services

Source: LIMRA