The Insure your Earnings calculator helps to determine how much of a lump sum investment you would need to provide an equivalent salary should you become unable to work. Compare this to the value of your other assets and ask yourself if your future earning power is adequately insured with disability insurance.
Individual disability insurance ensures you’re fully covered to insure your earnings, or replace your income should you become sick or injured. The amount of coverage you need depends on a variety of factors, such as how much you earn and your financial obligations.
Determining the right insurance coverage is an important decision. Whether or not you have income protection as an employee benefit, you may need customized coverage to provide for any gaps.
Try the Insure your Earning calculator to get a better idea of how you can replace your standards of living expenses.
Insurance calculators help advisors analyze clients’ need for life, disability and critical illness insurance. Companion calculators include:
• Life Insurance Needs
• Disability Insurance Needs Calculator
• Critical Illness Insurance Needs