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Disability Insurance Calculator

The Disability Insurance calculator helps you determine whether you have sufficient disability insurance to cover your needs should you not be able to work for a period of time. This calculator is intended to address short term disability, defined here as a disability that is expected to last up to five years (60 months).*

  • Enter exact numbers by clicking in the box and type your number (no commas). The results of your calculations show in the box near the middle of the calculator.

Help

Disability Information
Disability Expenses
These are your monthly expenses that have to be paid by your disability insurance for the length of your disability.
Disability Duration
This is the number of months you expect to be disabled, up to a total of 60 months.
Employer Coverage

Some employers offer some amount of disability coverage. Depending on your employer, you might have to pay premiums for some or all of this coverage.

Monthly Coverage
This is the amount of monthly benefit paid by your employer’s disability insurance.
Length of Coverage
This is the number of months for which your employer’s disability insurance will provide coverage.
Elimination Period
Disability insurance often does not start paying until some months into the disability. The elimination period is the number of months that your disability insurance requires you to wait before the insurance company begins making payments.
Personal Coverage

Even if you have disability coverage through your employer, you might want to add more through a personal plan. There are maximum limits to disability insurance, so be sure to discuss your plans with your employer and with your private carrier.

Monthly Coverage
This is the amount of monthly benefit paid by your personal disability insurance.
Length of Coverage
This is the number of months for which your personal disability insurance will provide coverage.
Elimination Period
Disability insurance often does not start paying until some months into the disability. The elimination period is the number of months that your disability insurance requires you to wait before the insurance company begins making payments.
Results
Based on the information you’ve provided this will show, month by month, the surplus or shortfall that you will have during your disability.
Graph
This bar graph shows both coverage and shortages in the insurance covering expenses. Mouse over the graph for numerical readouts for specific months.

*Calculators provided are estimation tools and do not necessarily reflect products, terms or rates that Home Federal Bank may offer. Please contact your Home Federal banker to verify results.

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