1. Steve SavantPRO
    Syndicated Financial Columnist, Host of the weekly talk show Steve Savant's Money, the Name of the Game, Scottsdale Arizona
    Disability insurance is paycheck protection against your inability to work because of sickness and injury. The cost for disability coverage can be between 3 and 5% of your annual compensation depending upon your gender, age, smoking status, health history and current medical condition. It also factors in your vocation, duration of coverage and elimination period, which all factor into the premium.
    Answered on July 30, 2013
  2. Peggy MacePRO
    President and Senior Agent, Outlook Life, Most of the U.S.
    If you are buying supplemental disability insurance to provide more disability coverage than you get at your place of employment, the cost can be as low as 1% of your salary. If you are buying an individual, stand alone policy with many bells and whistles, the cost can be 5+% of your salary.
    Answered on July 31, 2013
  3. Peggy MacePRO
    President and Senior Agent, Outlook Life, Most of the U.S.
    A rule of thumb for hos much Disability Insurance should cost is 1-3% of your annual income. However, if you are young and in excellent health, it will cost much less than if you are older. At the same time, being older increases your chances of becoming disabled. So it could be worth far more than 3% of your annual income to get sufficient DI coverage at an older age.
    Answered on August 20, 2014
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