One of the most gaping holes in the debate on Social Security reform is the lack of discussion about Social Security as a life and disability insurance program. The program insures much more than just the elderly in retirement; fully one-third of payments go to non-retirees. These benefits – to around 17 million Americans – insure workers and their families from slipping into poverty when a worker becomes disabled or dies. The issue of disabled workers sheds light on many of the problems of private account proposals. These benefits are vital. If a worker earning $32,000 per year (near the national average) dies, Social Security replaces about 78 percent of his or her annual earnings (or $25,000). The Social Security Administration has calculated that for a family with two young children, the Social Security program provides the equivalent of a $400,000 life insurance policy or a $350,000 disability insurance policy. This is guaranteed insurance and security for unexpected life events that private accounts cannot provide, even in the best of circumstances. Almost three in 10 of today’s 20-year-olds will become disabled before they are 67 years old. Since approximately 78 percent of the private workforce in America has no disability insurance, the role of Social Security as a disability insurance program is crucial. The president’s 2001 Social Security Commission proposals did not recommend changes in the disability benefits program. However, all cost calculations assume disability benefits, as with retirement benefits, will be reduced by up to 46 percent. This incongruity has had disability advocates worried from the start. According to the Chicago Sun-Times, Marty Ford of the Consortium for Citizens with Disabilities feels, “anything [that is done] to the retiree formula will affect people with disabilities.” One of the main problems with the proposals for private accounts that has advocates and others worried is that disabled beneficiaries typically work less and need benefits sooner in life. This shorter timeline would negate some of the perceived benefits of private accounts, as there would not be enough time to accumulate the money needed to support a disabled worker. This point was noted by the Commission in their report, saying that disabled beneficiaries most likely would not have their full lives to accumulate enough funds in their private accounts to supply the same levels of benefits the current system does. In addition to disabled workers themselves, Social Security provides benefits to spouses, children, and parents. Approximately 5.4 million children under age 18 receive part of their family income from Social Security. Private accounts may make up the cut in benefits necessary to create the accounts, but only for those who work to retirement. The families of those who don’t last will certainly get less – at a time when they absolutely need more. Social Security provides much more than supplemental income at retirement – it provides life and disability insurance to protect against calamities and unplanned events for millions of Americans. Throughout the Social Security debate, it will be important for lawmakers and all those involved in the process to keep this fact in mind.