*Loan,banking and credit>>>disability insurance

How much disability insurance do I need?

When buying individual disability insurance the question of "how much do I need?" takes a back seat to the question "how much can I get?". Insurers base their policy structure on a maximum replacement percentage. While this limit varies a little from company to company and even occupational class to occupational class, you typically cannot get a benefit amount greater than 66-70% of your gross income. the last thing the insurer wants is for the insured to make more money being on disability than if they went back to work.

Just as important, maybe even moreso, is checking the policies definition of disability. It will either be an "any occupation" (Any Occ) or "own occupation" (Own Occ) definition. You want to get a policy that uses the Own Occ definition. Here's the difference:

Own Occ: Benefits paid if you are sick or injured and cannot perform the material duties of your occupation.

Any Occ: Benefits paid if you are sick or injured and cannot perform the material duties of your occupation, or any other occupation for which your experience and education is appropriate.

One last note: Assuming you are buying individual coverage, you probably do not want to claim the preiums as a tax deduction. As you already know, your benefit amount will be capped at around 70% of your gross. This should roughly equate to your net pay after taxes. If you deduct your premiums any benefits paid will be taxable. If you do not deduct the premiums then any benefits are tax free.

About 2/3 of your pay.
it is not a percentage of your pay. it would best be based on your finanical needs if you could not work. what do you actually spend to live?
You should determine how much disability insurance you need and what you you need it for. Is it to replace your income or just to pay a major expense. Then determine how long you want the inurance to last and what waiting period you want before payments begin. Also it's important to figure out how much you can afford to pay for this insurance. Remember, you cannot collect 100 percent of your lost income. Most times you can only get 2/3's.