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Back to section 3, step 2 of the workbook Disability Insurance Calculator


If you become unable to work due to illness or injury, it's essential that you have some type of disability insurance to replace a portion of your income. If you have no employer disability benefits, look into buying a private individual policy since you can't count on Social Security disability or workers' compensation benefits as a certain safety net. Use this Disability Insurance Calculator to begin to estimate your needs.

We are providing this abbreviated disability insurance calculator as an easy way for you to start estimating your needs. The calculator is an educational tool that provides only a rough estimate of your insurance needs, and the results are not intended to be an accurate or comprehensive analysis of your specific needs. The results are hypothetical, and are not intended to offer tax, legal, financial planning, or estate planning advice.

Note: You can fill out the Income and Expenses Calculator to estimate your monthly needs and then return to this screen.

 Estimated Current Monthly Household Living Expenses:
(Not including payroll taxes.)
 (Optional) Estimated Social Security Disability Benefits:
(These benefits are generally only subject to income tax if your
total income reaches a certain level. See help note below.1)
 Monthly Income from Individual Disability Policy:
(A policy you pay the premium for. These benefits are not
subject to income taxes if you pay 100% of the premiums.)
 Net Monthly Income from
Employer-Paid Group Disability Policy:
after tax. See help note below.2
 Net Monthly Income From Savings and
Investments During Disability, if Any:
after tax
 Partner's Monthly Net Income:
(After taxes.)
 Estimated Amount of Expenses You
Would Not Have During a Disability:
(For example, work-related expenses.)

1If you want to be conservative, you can leave out Social Security disability benefits since they are very difficult to qualify for, and may not fully meet your needs even if you do qualify. For information on Social Security disability and an estimate of your benefits, contact the Social Security Administration (www.ssa.gov).

2Remember to only enter the percentage of your current income covered by your policy -- 60% to 70% for example. Also remember to enter your after-tax benefit, since benefits from an employer-paid policy are subject to income taxes. If you also pay a portion of the premiums, only a portion of your benefits are subject to tax. (Benefits from an employer-paid policy are also subject to Social Security taxes for the first six months of your disability.) Check with your employer for the details of your plan.

Data is currently saved for 1 hour(s).

Representatives are registered, securities are sold, and investment advisory services offered through CUNA Brokerage Services, Inc. (CBSI), member FINRA/SIPC, a registered broker/dealer and investment advisor, 2000 Heritage Way, Waverly, Iowa 50677, toll-free (800) 369-2862. Nondeposit investment and insurance products are not federally insured, involve investment risk, may lose value and are not obligations of or guaranteed by CEFCU, or any affiliated entity. The representative may also be a financial institution employee that accepts deposits on behalf of the financial institution. CBSI is under contract with CEFCU, to make securities available to members. CBSI is a registered broker/dealer in all fifty states of the United States of America.

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