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Disability insurance replaces 60-70% of income if injury or illness prevents work. Many people overlook disability insurance despite 1-in-4 workers experiencing disability exceeding 90 days. Short-term disability covers 3-6 months; long-term disability covers years until retirement/recovery. Individual policies cost $25-$100 monthly depending on occupation, age, and benefit percentage. Employer-provided disability is common benefit; employee-provided individual policies supplement employer coverage.
Individual short-term disability (3 months): $300-$600 annual premium. Long-term disability (to age 65): $600-$1,500 annually for typical professional ($60,000 income, 60% benefit replacement). Own-occupation rider increases cost 10-20% but provides superior protection.
Occupation risk classification dramatically affects cost; dangerous jobs pay 2-3x higher. Age affects rates; younger workers pay less. Income level scales benefit and premium. Waiting period (elimination period) affects premium; longer waits reduce cost.
Working individuals without employer disability coverage use this calculator.
Employer disability coverage often subsidized or free; use it. Individual policies covering 60% income reduction provide adequate protection. Longer elimination periods (60+ days) reduce premiums 15-25%. Non-medical underwriting sometimes available for simplicity.
This calculator provides typical estimates based on market data and regional variations.