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Disability insurance calculator for attending physicians
How much disability insurance do you need?
If you could not work because of illness or injury, how much of your income would keep coming in?
Four short questions build a simple comparison: what you earn now, what your employer plan would pay, what you already own, and what you could add. Nothing you enter is saved, and nothing is sent unless you choose to send Bill your results.
Step 1 of 4 · About you
New individual disability policies are available through age 60
That means this calculator can’t show an amount of new individual coverage for you. Bill can still review the coverage you have today, including your employer plan and any policies you own, and talk through your options.
Your income protection
If you could not work, here is what would change
Your paycheck if you could not work
Want to close the gap?
Talk it through with Bill. He will confirm the amount you can add against your actual plan; the number here is an estimate, not an approved amount. No obligation.
Get your numbers reviewed
Bill will confirm what you qualify for and send you a copy of these results. Please leave medical details out.
Thank you. Bill has your information and will be in touch.
How this disability insurance calculator works
- Enter what you earn. The calculator turns your annual income into monthly take-home pay, using an assumed 30% tax rate.
- Add your employer long-term disability plan and any individual disability policies you already own. That shows how much income would still come in if you could not work, and how much would be missing.
- Switch on individual coverage to see how much you could add and how much of your take-home pay it could replace.
Why employer disability coverage often leaves a gap
Most employer long-term disability plans pay a percentage of your salary up to a monthly maximum. When your employer pays the premium, the benefit is generally taxable, so what reaches your bank account is less than the benefit on paper. For physicians, that can mean a large difference between take-home pay today and income during a disability. Individual disability insurance that you own is designed to close that difference.
Questions physicians ask
How much disability insurance do I need as a physician?
Enough that your employer plan, any policies you already own, and any coverage you add would come close to your take-home pay if you could not work. How much individual coverage you can buy is limited by your income and the coverage you already have. The calculator shows both numbers: how much of your income would be missing, and how much individual coverage your situation could support.
Is employer long-term disability insurance enough?
Run your numbers above to see. Two things commonly leave a gap for physicians: the plan's monthly maximum, and income tax on benefits from a plan your employer pays for. Individual disability insurance that you own can fill part or all of that gap.
Are disability insurance benefits taxable?
It depends on who pays the premium. Benefits from a plan your employer pays for are generally taxable income. Benefits from a policy you pay for with after-tax dollars are generally not taxable. This calculator assumes your employer benefit is taxable and that individual policy benefits are tax-free. It is an illustration, not tax advice.
I finished residency or fellowship recently. Does that change anything?
It can. If you completed training within the last two years, a recent-graduate option may let you add up to $8,000 per month of individual coverage, less any individual policies you already own, and income documentation may not be needed. Other criteria apply, and Bill can confirm before you apply anywhere.
Is there an age limit?
New Guardian individual disability policies are available through age 60. At age 61 or older, the calculator stops before collecting income and shows ways to contact Bill. It does not calculate an income gap. Bill can review your existing coverage and other options.
Is my information saved or shared?
Your answers are not saved. Nothing is sent unless you choose to send Bill your results. If you do, the form shows exactly what is included, and you can uncheck your results to send only your contact details.