Disability Insurance Estimator

Enter your annual gross income, your estimated monthly expenses, and any existing group or private disability insurance coverage you currently have.

The calculator will identify your recommended replacement target and highlight any dangerous gaps in your coverage.

Your ability to practice medicine is your most valuable financial asset, worth millions of dollars over your career. A disabling injury or illness could instantly wipe out your future earning potential.

Nearly 1 in 4 professionals will experience a period of disability before retirement. Without adequate coverage, physicians may be forced to drain retirement accounts or sell their homes.

Recommended Coverage: Gross Income × 60-65%.

Why 60%? Insurance companies rarely insure 100% of your income to prevent "moral hazard" (giving you a financial incentive to stay disabled). Furthermore, if you pay for the policy with post-tax dollars, the benefit is usually tax-free, meaning 60% of gross roughly equates to your normal take-home pay.

• Pearl: Always ensure your policy has a "True Own-Occupation" definition. This means if you can't work in your specific medical specialty (e.g., surgery), the policy pays out, even if you could work as a general practitioner or teacher.
• Pitfall: Relying solely on your employer's group policy. Group policies are usually capped (e.g., $10k/mo maximum), may not be true own-occupation, are often taxable if the employer pays the premium, and disappear if you change jobs.
• Pitfall: Waiting too long to buy. Rates increase with age, and any minor medical condition developed over time (even a back ache or anxiety) could result in an exclusion rider. Buy as an intern/resident!