Disability Insurance Basics
How much does disability insurance cost?
Disability insurance typically costs 1-3% of your annual income. The cost depends on your age, health, occupation, benefit amount, benefit period, elimination period, and definition of disability. Doctors, dentists, and other high-risk occupations pay more. Young, healthy people pay less.
Key Points
- Typical cost: 1-3% of annual income
- Factors: age, health, occupation, benefit amount, benefit period, elimination period
- High-risk occupations: pay more
- Young, healthy people: pay less
- An independent agent can compare disability insurance rates across multiple carriers