Agent Owner, Gilmore Insurance Services, Marysville, Washington State
how much does individual disability insurance cost? It's going to depend on many factors. Your age, your occupation, your health and build are factors. Inside the policy you may have to pay more for a better definition of disability, a cola rider, future insurability riders, and other features that depending on your choices and needs will either raise or lower the premium. The waiting period before the plan kicks in can save you money if you self insure that portion for as long as possible. The duration and not to mention the amount of benefit will also effect pricing.
When considering a DI policy plug in and out the several features, for example a cola might have three options of 4,5 and 6% to choose from. Each will change the premium. My suggestion is to plug in and pull out features till you get the combination of cost to benefit that you want.
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When considering a DI policy plug in and out the several features, for example a cola might have three options of 4,5 and 6% to choose from. Each will change the premium. My suggestion is to plug in and pull out features till you get the combination of cost to benefit that you want.