Short Term Disability (STD) insurance provides income replacement if you are unable to work due to a non-work-related illness or injury for a limited period. This calculator helps you estimate your potential weekly benefit amount based on your income and policy details.
How the Calculation Works
The primary calculation for your estimated weekly STD benefit is as follows:
Step 1: Calculate Your Weekly Benefit Amount
Multiply your average weekly income by the benefit percentage specified in your policy.
Formula: Weekly Benefit = Average Weekly Income * (Benefit Percentage / 100)
Step 2: Consider Policy Limitations
Elimination Period: This is the waiting period you must serve before benefits begin. It's typically measured in days or weeks. Benefits are not paid during this period.
Benefit Period: This is the maximum duration for which you can receive benefits. It's usually expressed in weeks (e.g., 12 weeks, 26 weeks).
Example Calculation
Let's assume the following details:
Your Average Weekly Income: $1,200
Benefit Percentage: 60%
Elimination Period: 7 days (1 week)
Benefit Period: 12 weeks
Calculation:
Weekly Benefit Amount: $1,200 * (60 / 100) = $720
First Payment Date: After the 7-day elimination period.
Total Potential Benefit Duration: 12 weeks.
In this example, you could expect to receive approximately $720 per week for up to 12 weeks, after serving the 7-day elimination period. The calculator provides the potential weekly benefit amount.
Important Considerations
Policy Specifics: Always refer to your official STD policy documents for the exact terms, conditions, definitions, and benefit amounts.
Maximum Benefit Limits: Policies may have a maximum weekly or total benefit amount that you cannot exceed, even if your calculated benefit is higher.
Definition of Disability: STD policies define what constitutes a disability. This can vary from an inability to perform your specific job to an inability to perform any job.
Taxes: Depending on whether you or your employer paid the premiums, your STD benefits may be taxable income.
Other Income Sources: Some policies may reduce your STD benefit if you are receiving other income (e.g., workers' compensation).
This calculator is a tool for estimation and should not be considered financial advice. Consult with your HR department or insurance provider for personalized information.
function calculateSTD() {
var weeklyIncome = parseFloat(document.getElementById("weeklyIncome").value);
var benefitPercentage = parseFloat(document.getElementById("benefitPercentage").value);
var eliminationPeriodDays = parseFloat(document.getElementById("eliminationPeriodDays").value);
var benefitPeriodWeeks = parseFloat(document.getElementById("benefitPeriodWeeks").value);
var resultElement = document.getElementById("result");
if (isNaN(weeklyIncome) || isNaN(benefitPercentage) || isNaN(eliminationPeriodDays) || isNaN(benefitPeriodWeeks) ||
weeklyIncome < 0 || benefitPercentage 100 || eliminationPeriodDays < 0 || benefitPeriodWeeks <= 0) {
resultElement.textContent = "Invalid Input";
resultElement.style.color = "#dc3545"; // Red for error
return;
}
var calculatedBenefit = weeklyIncome * (benefitPercentage / 100);
// Ensure benefit doesn't exceed weekly income (though typically handled by percentage)
calculatedBenefit = Math.min(calculatedBenefit, weeklyIncome);
// Format the result to two decimal places, but remove trailing .00 if applicable
var formattedBenefit = "$" + calculatedBenefit.toFixed(2);
if (formattedBenefit.endsWith(".00")) {
formattedBenefit = "$" + calculatedBenefit.toFixed(0);
} else if (formattedBenefit.endsWith("0")) {
formattedBenefit = "$" + calculatedBenefit.toFixed(1);
}
resultElement.textContent = formattedBenefit;
resultElement.style.color = "#28a745"; // Green for success
}