Disability Insurance (Canadian)

Are you thinking of purchasing a disability insurance policy? Disability insurance is a protection against permanent or temporary disability to work caused by any accident. Using this calculator you can determine the monthly benefits from the disability insurance if applied.
Current monthly expenses
The monthly living cost that you are incurring currently while you are able to work. This will include everything from your rent payments to utility bills.
Disability monthly expenses
The monthly living cost that you are expected to incur in case you are disabled. This cost will also include everything starting from your rent payments to utility bills. ACalculator uses a default rate of 70 percent of the current monthly expenses as disability monthly expenses.
Length of disability
The possible number of months it should take to recover from a temporary disability. It is wise to overvalue this field while entering into disability insurance.
Current monthly coverage
The amount by which you are currently insured for any disability including disability coverage supports available from the employer.
Length of coverage
Expiration time (in month) of your currently available monthly coverage.
Annual inflation
This field is required if you want an inflation adjusted calculation of your disability insurance benefit. Normally, inflation doesn’t count a lot for short-term disabilities. Therefore, it is sensible to make adjustments for inflation if the risk of being disable is for a longer time.