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


10 Key Ways to Prepare for Extreme Snow
Forecasters are predicting a true nor'easter will hit the eastern and central states with rain, thunderstorms, ice, snow and high winds over the Thanksgiving weekend. It's crucial to plan ahead, before bad weather hits. || Posted November 26 2013


10 Most Popular Cosmetic Procedures Before the Holidays
With reunions and other get-togethers scheduled during the holiday season, most people want to look their best at this time of year. For some, that means filling in those wrinkles with a bit of botox, or having a nip and tuck down here and there. || Posted November 23 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
Insulation and labor of sump pump
Paid: 11000.00
My 87 year old mother was just told by Roto Rooter it would cost her 11,000 for a submersible sump pump to be instaled and connected to her city sewer... [more]
-Maryizene
Sump Pump Cost
Disposals
Paid: 265.00
$265.00 is about the going rate for a badger 5 disposal in the Cincinnati area.... [more]
-Mark45236
Garbage Disposal Cost
timing belt, water pump and thermostat
Paid: 800.00
My car over heated and the thermostat needle was fully up. They replaced the water pump, thermostat, timing belt and other old hoses once they were inside the engine...plus an oil change. in my 1998 Pathfinder. All is well after that... [more]
-CBG
Replacing a Timing Belt Cost
Dentures
Paid: 6000.00
This will be my second set of dentures. I've learned there are different types for different budgets. My first pair were premium and lasted over 25 years... [more]
-MaggieMae 368
Dentures Cost
Gift of love
Paid: 300.00
I just made my son's wedding cake. It was 4 tiers, with a rough frosting exterior. The frosting was made with real butter and whipping cream. The cake layers were baked from scratch. It cost $300 for the ingredients and supplies... [more]
-Debobo
Wedding Cake Cost
Home visit, euthanasia & communal cremation
Paid: 300.00
Our experience was very similar to Sharlene's in Anaheim. Our lab (70 lbs.) was almost 15. He was given a sedative (shot) first. We had the convertible couch bed open in the living room... [more]
-Mary K Swift
Pet Euthanasia Cost