There are many statistics about the probability of the general population suffering a disability. Statistics only tell part of the story though. Preparing for a secure financial future is serious business and best made with information about your situation. Here are two disability insurance calculators you can use to estimate the likelihood of suffering an income-interrupting disability, how long you might be disabled and the financial impact of a disability.
Disability Calculator: Your PDQ (Personal Disability Quotient)
Answer six simple questions to learn your risk of becoming disabled. Gender, occupation, and tobacco use each contribute to the probability of becoming disabled during your career. This calculator also factors your age, weight, lifestyle, and general health status to refine the prediction of a disability lasting three months or more.
The PDQ calculator also provides an estimate of how long the disability may last. You will find this helpful when deciding the benefit period.
Disability Insurance Calculator: Your EIQ (Earnings Income Quotient)
Calculate the financial impact of becoming disabled based on your current income, your age and when you plan to retire. This calculator projects what your the income loss might be. The result puts a dollar amount to the value of your ability to earn an income.
Combine the information from each of these disability insurance calculators to choose the amount of coverage and the benefit period you need to be comfortable with your level of disability income protection.