Disability Insurance Calculator
Calculate your income protection needs with detailed disability insurance analysis. Compare short-term and long-term disability coverage options to protect your financial future.
Personal Information
Financial Situation
Coverage Preferences
Understanding Disability Insurance
Disability insurance protects your most valuable asset - your ability to earn income. One in four working adults will experience a disability before retirement, making this coverage essential for financial security.
Short-Term vs Long-Term Disability
Short-Term Disability (STD)
- Covers 3-6 months typically
- Benefits start quickly (7-14 days)
- Replaces 60-70% of income
- Often employer-provided
- Lower premiums
Long-Term Disability (LTD)
- Covers years to decades
- 90-180 day waiting period
- Replaces 50-70% of income
- More comprehensive coverage
- Higher premiums but crucial
Key Policy Features
- Own Occupation: Pays if you can't work in YOUR specific job (best option)
- Any Occupation: Only pays if you can't work in ANY job (more restrictive)
- Elimination Period: Waiting period before benefits begin (longer = lower premium)
- Benefit Period: How long benefits last (to age 65/67 is common)
- COLA: Cost of Living Adjustment to protect against inflation
- Residual/Partial: Benefits if you can only work part-time
What's Typically Covered
- Illness (including mental health conditions)
- Injuries (on or off the job)
- Pregnancy complications
- Chronic conditions (arthritis, back problems, etc.)
- Recovery from surgery
Cost-Saving Tips
- Buy young - rates increase significantly with age
- Choose longer elimination periods if you have savings
- Consider "graded" or "step" premiums
- Bundle with other insurance for discounts
- Maintain good health to qualify for preferred rates
- Review employer coverage before buying individual policy