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    Disability Insurance Calculator (Canadian)

    Get a Disability Insurance Calculator (Canadian) branded for your website! Colorful, interactive, simply The Best Financial Calculators!
    One of the most common causes of income loss is through a disability. While most disabilities cause only temporary loss of income, any income loss can be devastating if you are not financially prepared. This calculator helps you determine how much disability insurance you may need to cover expenses during such a disability.
    By changing any value in the following form fields, calculated values are immediately provided for displayed output values. Click the view report button to see all of your results.



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    Disability Insurance Calculator (Canadian)
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    **FIG_GRAPHTITLE** Line Graph: Please use the calculator's report to see detailed calculation results in tabular form.

    Disability Insurance Calculator (Canadian) Definitions

    Current monthly expenses

    Your total monthly living expenses. Remember to include your home or rent payments, food, clothing, gas, phone and other monthly expenses.

    Disability monthly expenses

    Your monthly expenses while you are disabled. This amount is usually a little less than your original monthly expenses. The default value for this field is calculated as 70% of your current monthly expenses. You should keep in mind, however, that many expenses such as your mortgage, rent, utilities and food will most likely remain the same as before you were disabled.

    Months of disability

    The number of months you expect a disability will prevent you from working. A common mistake is to underestimate the time it takes to get back to work.

    Current monthly coverage

    Your current monthly disability coverage. Make sure to include any disability coverage supplied by your employer.

    Months of coverage

    Number of months that your current monthly coverage will last.

    Annual inflation

    What you expect for the average long-term inflation rate. If you are disabled for a short period of time, inflation is usually not a very important factor. However, you may need to consider the effect of inflation if you remain disabled for more than a few years.