Disability insurance rates depend partly on your age. Coverage costs less when you’re younger because you have a lower chance of a disabling illness or injury keeping you from working.
That’s why we recommend comparing quotes and getting disability insurance early in life, so you can lock in low rates for the length of the policy.
Methodology: How we calculated disability insurance rates by age
We calculated the cost of disability insurance using quotes for sample applicants living in Illinois who work in high-income fields, such as engineering, law, or accounting. Our sample policies had the following details:
Benefit amount: $5,000 per month
Benefit period: Until age 65
Elimination period: 90 days
Definition of disability: Own-occupation coverage
Riders: Non-cancelable rider, basic residual benefits rider, future benefits increase rider
What is disability insurance?
Disability insurance is basically income protection insurance — it replaces your income if an injury or illness keeps you out of work for an extended period of time. Disability insurance covers a range of disabling conditions, like:
Anxiety and depression
Broken bones or injuries from an accident
Arthritis or joint pain
Nerve damage
Cancer and other serious illnesses
Just like with life insurance, disability insurance rates go up as you get older, so it’s a good idea to get a long-term disability policy while you’re younger. That also means you’ll be covered for more of your earning years.
→ Read more about what disability insurance covers
Disability insurance rates by age and gender
We found that a 24-year-old male applicant can expect to pay about $943 per year for a disability insurance policy worth $5,000 a month in coverage. At age 40, this same applicant would pay about $1,597 per year for a policy.
The cost of disability insurance increases faster for men than for women even though women tend to pay more for coverage overall.
Age | Monthly rate | Annual rate | Total cost over course of career |
|---|---|---|---|
24 | $79 | $943 | $48,093 |
25 | $79 | $943 | $46,920 |
26 | $81 | $969 | $47,190 |
27 | $83 | $998 | $47,538 |
28 | $86 | $1,030 | $47,952 |
29 | $89 | $1,065 | $48,384 |
30 | $92 | $1,103 | $48,860 |
31 | $95 | $1,143 | $49,300 |
32 | $99 | $1,185 | $49,665 |
33 | $102 | $1,230 | $50,080 |
34 | $106 | $1,277 | $50,375 |
35 | $110 | $1,326 | $50,610 |
36 | $115 | $1,376 | $50,721 |
37 | $119 | $1,429 | $50,764 |
38 | $124 | $1,483 | $50,679 |
39 | $128 | $1,540 | $50,518 |
40 | $133 | $1,597 | $50,200 |
41 | $138 | $1,655 | $49,704 |
42 | $143 | $1,715 | $49,105 |
43 | $148 | $1,775 | $48,312 |
44 | $153 | $1,838 | $47,439 |
45 | $158 | $1,901 | $46,380 |
46 | $164 | $1,962 | $45,106 |
47 | $169 | $2,023 | $43,686 |
48 | $174 | $2,086 | $42,126 |
49 | $179 | $2,150 | $40,448 |
50 | $184 | $2,213 | $38,610 |
51 | $189 | $2,269 | $36,526 |
52 | $194 | $2,325 | $34,320 |
53 | $198 | $2,380 | $32,004 |
54 | $203 | $2,435 | $29,601 |
55 | $207 | $2,489 | $27,110 |
56 | $217 | $2,604 | $25,524 |
57 | $226 | $2,715 | $23,648 |
58 | $230 | $2,756 | $21,007 |
59 | $231 | $2,773 | $18,120 |
60 | $230 | $2,757 | $15,015 |
Disability insurance rates for men
Age | Monthly rate | Annual rate | Total cost over course of career |
|---|---|---|---|
$24 | $59 | $713 | $29,233 |
$25 | $59 | $713 | $28,520 |
$26 | $61 | $728 | $28,392 |
$27 | $62 | $745 | $28,310 |
$28 | $64 | $764 | $28,268 |
$29 | $66 | $786 | $28,296 |
$30 | $67 | $809 | $28,315 |
$31 | $70 | $835 | $28,390 |
$32 | $72 | $864 | $28,512 |
$33 | $75 | $894 | $28,608 |
$34 | $77 | $928 | $28,768 |
$35 | $80 | $964 | $28,920 |
$36 | $84 | $1,003 | $29,087 |
$37 | $87 | $1,044 | $29,232 |
$38 | $91 | $1,088 | $29,376 |
$39 | $95 | $1,136 | $29,536 |
$40 | $99 | $1,186 | $29,650 |
$41 | $103 | $1,239 | $29,736 |
$42 | $108 | $1,295 | $29,785 |
$43 | $113 | $1,354 | $29,788 |
$44 | $118 | $1,416 | $29,736 |
$45 | $124 | $1,482 | $29,640 |
$46 | $129 | $1,550 | $29,450 |
$47 | $135 | $1,619 | $29,142 |
$48 | $141 | $1,693 | $28,781 |
$49 | $148 | $1,771 | $28,336 |
$50 | $154 | $1,851 | $27,765 |
$51 | $161 | $1,929 | $27,006 |
$52 | $167 | $2,009 | $26,117 |
$53 | $174 | $2,092 | $25,104 |
$54 | $182 | $2,179 | $23,969 |
$55 | $189 | $2,267 | $22,670 |
$56 | $198 | $2,371 | $21,339 |
$57 | $206 | $2,473 | $19,784 |
$58 | $209 | $2,510 | $17,570 |
$59 | $211 | $2,526 | $15,156 |
$60 | $209 | $2,511 | $12,555 |
Disability insurance rates for women
Age | Monthly rate | Annual rate | Total cost over course of career |
|---|---|---|---|
24 | $98 | $1,173 | $48,093 |
25 | $98 | $1,173 | $46,920 |
26 | $101 | $1,210 | $47,190 |
27 | $104 | $1,251 | $47,538 |
28 | $108 | $1,296 | $47,952 |
29 | $112 | $1,344 | $48,384 |
30 | $116 | $1,396 | $48,860 |
31 | $121 | $1,450 | $49,300 |
32 | $125 | $1,505 | $49,665 |
33 | $130 | $1,565 | $50,080 |
34 | $135 | $1,625 | $50,375 |
35 | $141 | $1,687 | $50,610 |
36 | $146 | $1,749 | $50,721 |
37 | $151 | $1,813 | $50,764 |
38 | $156 | $1,877 | $50,679 |
39 | $162 | $1,943 | $50,518 |
40 | $167 | $2,008 | $50,200 |
41 | $173 | $2,071 | $49,704 |
42 | $178 | $2,135 | $49,105 |
43 | $183 | $2,196 | $48,312 |
44 | $188 | $2,259 | $47,439 |
45 | $193 | $2,319 | $46,380 |
46 | $198 | $2,374 | $45,106 |
47 | $202 | $2,427 | $43,686 |
48 | $207 | $2,478 | $42,126 |
49 | $211 | $2,528 | $40,448 |
50 | $215 | $2,574 | $38,610 |
51 | $217 | $2,609 | $36,526 |
52 | $220 | $2,640 | $34,320 |
53 | $222 | $2,667 | $32,004 |
54 | $224 | $2,691 | $29,601 |
55 | $226 | $2,711 | $27,110 |
56 | $236 | $2,836 | $25,524 |
57 | $246 | $2,956 | $23,648 |
58 | $250 | $3,001 | $21,007 |
59 | $252 | $3,020 | $18,120 |
60 | $250 | $3,003 | $15,015 |
Should you get graded premiums?
Unlike level premiums, which stay the same over the lifetime of your disability insurance policy, graded premiums start low and get more expensive every few years. Eventually you may pay thousands of dollars more for coverage than when you first got your policy.
Although this kind of coverage can make disability insurance more affordable early on, we recommend getting a policy with level premiums or converting a graded-premium policy as soon as you can.
→ Read more about graded and level premiums
Why it’s better to buy disability insurance early
The bottom line: Not only will your rates be cheaper if you buy disability insurance while you’re still relatively young, the cost/benefit ratio is also just better.
Buying disability insurance when you’re younger means you can get the most out of your policy.
Let’s say that you’re in a car accident at 25 that causes a disabling injury that means you can never return to your job.
In this scenario, you have a policy that pays $6,000 a month tax-free until age 65 in the event you become disabled and can’t work. The policy was $2,000 but, at this age, it would pay you a total of $2.8 million back in coverage from the day of the accident until you’re 65.
Now imagine that you waited until age 50 to get a policy. It costs twice as much as it did when you were 25. If you were injured right away and couldn’t work, your policy would pay out a total of $1.08 million. The longer you wait to get a policy, the more you’ll pay for less coverage.
How to compare disability benefits and cost at any age
Find your total benefits: Subtract your age right now from your age when your coverage ends, then multiply the answer by your annual benefit amount.
Find your total cost: Multiply your annual premium by the number of years left on your policy.
Figure out the cost-benefit ratio: Divide your total benefits by your total cost.
Calculate your policy’s cost per dollar: Multiply the cost-benefit ratio by 10,000 to make it easier to understand how much you’re paying per unit of coverage.
At what age is disability insurance no longer worth it?
It’s probably not worth buying disability insurance once you’re a senior — if you can even find a company willing to offer you coverage.
If you already have a policy and you’re approaching retirement age, consider putting the money you would have spent on premiums toward your savings, especially if you could already afford to cover your expenses with your savings for a few years.
→ Read more about disability insurance and retirement
What other factors affect my disability insurance rates?
Age is just one factor that affects what you pay for disability insurance. Some of the other details that determine what you pay include your:
Benefit amount: Most policies cover 60% of your pre-tax income, which usually comes close to your gross pay. You may be able to get more coverage, but it will cost more too.
Benefit period: This is the maximum amount of time you’ll receive benefits if you can’t work. The longer your benefit period, the higher your rates will be.
Elimination period: This is the length of time that you have to wait after becoming disabled before you can receive any benefits. A longer elimination period means cheaper rates.
Definition of disability: Sometimes you’ll only be eligible for benefits if a condition keeps you from working at all, but with some policies you’ll be able to receive benefits only if you can’t do your current job.
Health history: If you have a chronic illness or a family history of pre-existing conditions, disability insurance will be more expensive because you have an increased risk of making a claim.
Frequently asked questions
How much do most people pay for disability insurance?
While the cost of disability insurance is usually at around 1% to 3% of your income, rates depend on many personal factors, meaning it’s hard to say precisely what someone will pay for coverage.
What age should you get disability insurance?
You should get disability insurance as soon as you can afford it, that way you can lock in lower rates and avoid paying higher premiums later on.
Will disability insurance still cover me as my income changes?
It’s normal for your income to grow as you get older. For this reason, it’s worth adding a future increase option to your policy so that you can increase your coverage without going through another medical exam.
