The online Disability Insurance Calculator tool asks the employee for information such as monthly expenses, the amount of workplace long-term disability coverage, and the individual’s current monthly income. After compiling all of the necessary information, the calculator provides an approximation of the level of disability insurance coverage that may be needed, while taking into consideration any disability income coverage that the person may have through his/her employer.
“For young and old alike, their income is one of their greatest assets. However, too many underestimate their chances of becoming disabled. Having long-term disability coverage through one’s place of employment is an important start. Yet, it typically only protects 40% to 60% of the employee’s income, which in many cases is not sufficient,” said Jim Jacobsen, vice president, Individual Disability Sales, MetLife. “By spending a few minutes using the Disability Insurance Calculator, individuals may better understand the impact a disability may have on their lifestyle.”
The new tool is at http://www.metlifeiseasier.com/disabilitycalculator .