Search thousands of topics on CostHelper.com

BROWSE ALL TOPICS >> appliances babies & children  cars  consumer electronics health & personal care home & garden personal finance  pets  schools small business weddings
CostHelper > Personal Finance  > Insurance > Disability Insurance

Disability Insurance Cost


How Much Does Disability Insurance Cost?

 
 average costRange: 1-3% of salary 
post E-mail post Post  
  Typical costs:
  • Expect to pay between 1 percent and 3 percent of your annual salary for a good disability plan, according to DisabilityQuotes.com[1] . That works out to $600-$1,800 for someone earning $60,000 a year.
  • Disability insurance provides income to help pay your living expenses if you are unable to work for a significant length of time because of injury or illness. Generally benefit payments are 60 percent of your total salary.
  • Short-term disability polices have a waiting period of 0-14 days and pay benefits for no more than two years. Long-term disability policies usually have a waiting period of several weeks to several months and benefits could be paid a few years up to the rest of your life, depending on the policy terms.
  • States such as Hawaii, New Jersey, New York and Rhode Island requires employers to provide disability benefits for up to 26 weeks, according to the Insurance Information Institute[2] . Some employers provide short-term disability insurance, although often the employees have to pay the premiums.
Related articles: Health Insurance, Life Insurance, Long Term Care Insurance

Discounts:
  • Premiums are lower for policies with a longer waiting period before benefits begin and/or a shorter benefit period.
Shopping for disability insurance:
  • The Federal Citizen Information Center[3] gives a detailed overview of long term disability insurance, listing common terms and tips for buying.
  • Insurance4USA.com[4] provides online quotes.
  • Your state insurance department can give you a list of registered disability insurance companies in your area. The National Association of Insurance Commissioners gives links to these state offices[5] and has a database to search for financial details and complaint histories for specific companies.
post E-mail post Post  
CostHelper News


Forgotten Expenses In a Home Addition Budget
Items like construction costs, permit fees or debris removal aren't the only expenses to consider when calculating the total costs of a home remodeling project. || Posted August 5 2013


7 Ways to Stretch Your Reduced Food Budget
End of the year budgets are tight for everyone, especially in this economy.It's especially hard for the millions of Americans who depend on government programs like food stamps to help make ends meet. || Posted November 11 2013

‣ All CostHelper Blog Posts


What People Are Paying - Recent Comments


 

Comment On Your Experience With Disability Insurance
 
Subject:  *
Amount Spent:  * per month
Percent of Salary: Coverage: 
Insurer: Policy: 
Comments: 
Purchased:  Year: 
City:  * State:  *
 
Information about you:
Email:  * Email addresses are not displayed.
Name:  This is the name we'll display with your post.
me on this computer
*=required field.
 



External Resources:
  1.  www.disabilityquotes.com/disability-insurance/disability-insurance-cost.cfm
  2.  www.iii.org/individuals/disability/employer/
  3.  publications.usa.gov/USAPubs.php?PubID=6042
  4.  www.insurance4usa.com/disability.cfm
  5.  www.naic.org/state_web_map.htm
More Personal Finance Topics
Check Out All Costs for Personal Finance How Much Do Funeral Flowers Cost? How Much Do Tax Returns Cost? How Much Does Closing a Home Cost?

Search Thousands of Topics on CostHelper.com




Today's Featured Cost Articles

About CostHelper
CostHelper is based in Silicon Valley and provides consumers with unbiased price information about thousands of goods and services. Our writers are experienced journalists who adhere to our strict editorial ethics policy.

CostHelper Community
Brake repair
Paid: 348.00
I first priced new brake pads and shoes at the register. Then told them to do the job... [more]
-rickdg
Tune-up Cost
Walgreens in North TX
Paid: 31.99
Much less painful and less costly than influenza!... [more]
-Tex Girl
Flu Shot Cost
tune up
Paid: 375.00
Is this normal? I paid $375... [more]
-kelly freeman
Tune-up Cost
Not ready for another baby yet!
Paid: 50.00
I am 24 yrs old and I already have a 6yr old little girl. Im not ready for another baby right now for sure!! I have unprotected sex with my fiancé last night and we just wanted to make sure... [more]
-Fiancé's Passion Needs Relaxin'!
Morning After Pill Cost
Pressure Washing
Paid: 85.00
This lady was so polite and detailed. She pressure washed my driveway, walkway and sidewalk all for $85.00. She also done my neighbor house... [more]
-Miss.Adams
Pressure Washing Cost
garbage disposal and install
Paid: 265.00
I feel I got ripped off. Guy was here 20 minutes took out the old one and replaced with a new one with no brand name that can see. He didn't even break down the charges on the bill. Just a flat 265.00.... [more]
-#sucker
Garbage Disposal Cost