Disability Insurance Calculator
Your permanent or short-term disability can lead you to significant losses or poor economic condition if you are not prepared for such incidents. Using our Disability Insurance Calculator you will be able to find out the amount of disability insurance you need to make up for such conditions. Monthly expenses and available insurance coverage will be illustrated through graphical presentations as well.
- Current monthly expenses
- Total dollar amount you are currently spending to meet your living expenses. This should include monthly costs for food, utility, rent etc.
- Disability monthly expenses
- Your estimated monthly cost if you are disabled. This calculator takes 70% value of the current monthly expenses by default.
- Length of disability
- The highest possible time you may suffer from disability to work. It is always good to not underestimate the disability period.
- Current monthly coverage
- The amount of current monthly disability coverage including insurance provided by the employer.
- Length of coverage
- Length of time the current monthly coverage is expected to last.
- Annual inflation
- The rate by which you expect the average price level will be inflated over the long-term. Using the CPI or Consumer Price Index, you can find the ongoing annual inflation rate. This rate is used by this calculator to adjust your expenses in case of long-term disability.