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Disability Insurance Calculator

How much disability insurance do you need?

Disability insurance pays you a monthly benefit if an illness or injury stops you from working. Enter your income and bills to see the monthly benefit that would keep them paid.

  • Educational estimate
  • No email or phone number needed
  • No obligation
Start your estimate
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Your estimate$0 a month

The figures below are examples. Replace them with your own.

How we calculate your estimate

These are planning assumptions used by this calculator. An insurer or your broker may use different figures.

  • Monthly gap: your essential monthly expenses, minus other household income that would keep coming in, minus disability coverage you already have.
  • Most an insurer is likely to offer: insurers limit your total disability benefits so that you do not earn more off work than at work. We use two-thirds of your income before tax, less the coverage you already have. Each insurer sets its own limit.Planning assumption.
  • Your estimate: the monthly gap, rounded up to the nearest $100, or the insurer limit if that is lower.
  • Savings: your savings divided by the monthly gap. This is how long you could pay your bills with no new coverage.

What to know about disability insurance

  • A monthly benefit, not a lump sum: it is paid each month while you cannot work, after a waiting period you choose, often 30, 90 or 120 days. Your savings need to cover that wait.
  • Tax: when you pay the premiums yourself, the benefit is usually tax-free. When your employer pays them, the benefit is usually taxed as income.
  • Coverage through work: a group plan usually ends when you leave the job, and it may only pay for a set number of years. Check the booklet for the amount and the limits.
  • Your job and health matter: the insurer looks at your occupation, income and health when you apply. The definition of disability differs by policy.

Protect the rest of your plan

Critical Illness CalculatorSee the lump sum that would cover the costs of a serious illness.Check a serious illness Life Insurance CalculatorSee how much your family would need if you were not there.Check life insurance Mortgage Protection CalculatorSee the coverage that would keep your mortgage paid.Check your mortgage

This calculator gives an estimate for education only. It is not advice and it is not an offer of insurance. Coverage, benefit amounts, tax treatment and cost depend on the policy, your own situation and underwriting by the insurer, including your occupation, income and health. A licensed Vansure broker reviews your needs with you before you apply.

Ready to explore your options?

Start a disability insurance quote online, then review it with a licensed BC broker.

Explore Disability Insurance QuotesTalk to a Broker

Common questions

Usually up to about 60% to 70% of your income before tax. Insurers set a limit so that you do not earn more off work than at work.

It is the time between becoming disabled and your first payment, often 30, 90 or 120 days. A longer waiting period costs less, but your savings have to cover the gap.

Check three things in your plan booklet: how much it pays, how long it pays, and whether the benefit is taxed. Group coverage usually ends when you leave the job. A policy you own stays with you.