How Much Disability Insurance Calculator

How Much Disability Insurance Calculator

The how much disability insurance calculator. Answer the following questions to determine your current need for income protection. Individual Disability Insurance can help replace the gap between your current resources and financial goals.

MONTHLY DISABILITY BENEFITS AND ADDITIONAL INCOME
Please Note: Do not use commas
Group Disability Insurance Benefit:
How much would you receive each month from your company’s group disability insurance coverage? Be sure to deduct any income taxes that will be paid on the benefits you receive under this coverage.
.
$
Individual Disability Income Insurance Benefit:
Enter your monthly benefit amount. Proceeds from individual disability income policies are typically not taxable if premiums are paid by you. Consult your tax advisor for details.
.
$
Monthly Social Security Disability Benefit:
In most cases, this answer will be zero. For an exact figure, call 800-772-1213 toll free, or visit the Social Security Administration website. Do not enter an amount here if you have group disability insurance, since those benefits would be integrated with any Social Security disability benefits you might receive.
.
$
Additional Household Income
Add the monthly net (take-home) value of rental income, your spouse?s income, investment returns, early IRA or pension distributions and other income sources.
.
$
Total Monthly Disability Benefits and Additional Income

 

$
MONTHLY EXPENSES
Mortgage/Rent:
Even if your mortgage is paid off, be sure to consider the monthly cost of property taxes, association fees and any other homeowner expenses.
.
$
Utilities and Household Expenses:
Total what you pay each month for electricity, gas, water, telephone, cable, Internet, trash collection and other monthly expenses.
.
$
Groceries and Household Supplies:
Add up your typical monthly expenses for food and supplies. Be sure to include dining out.
.
$
Auto Payments and Expenses:
Include monthly auto payments, fuel, licensing fees and maintenance costs, as well as a contingency fund for repairs.
.
$
Loans, Credit Cards and Charge Accounts:
Total the amount you typically pay each month on your loans and credit cards. Include equity loans, college loans and loans from your life insurance policies. (Car loans and mortgage loans are included elsewhere.)
.
$
Insurance Premiums:
Add up your current monthly premiums for medical, dental, life, auto, homeowner?s and other types of insurance. (Do not count homeowner?s insurance if it?s included in your mortgage payment.)
.
$
Childcare:
Add the monthly costs of childcare, school lunches, special interests or events, etc.
.
$
Savings and Investing:
Total your monthly savings for retirement, college expenses or an emergency fund.
$
Other Monthly Expenses:
How much do you spend for clothes, entertainment and other monthly expenses?
.
$
Total Monthly Expenses:

 

Your Disability Income Protection Gap:

 

$
 
$

 

DisabilityInsuranceForYou.com is here to help you. Whether you have general questions regarding disability insurance, interested in the cost or need to review your current disability insurance coverage, we are here to help you! Since 1971 we have been working with individuals to find the best coverage at the best price to fit their needs.

Contact us today to learn how we can help protect your financial future from a disability.

How Much Disability Insurance Calculator

1-800-848-4421
Info@DisabilityInsuranceForYou.com