Disability Insurance
Disability Insurance
if you suffer an illness or injury your income may stop, but your bills won’t.
Disability insurance provides a monthly income replacement benefit when you are unable to work.
Some plans pay benefits even when you are still able to work. If you are unable to work the same number of hours, perform the same duties, or achieve the same productivity you can still receive a benefit to top up your income. In other words, your monthly income benefit can be based on income lost rather than your complete inability to work.
plans are customizable.
Choose your:
Choose your:
- waiting period – common choices are 30, 60, or 90 days after incident/diagnosis
- choose your benefit period – common selections are 5 years, 10 years, or to age 65
- monthly income benefit – you can insure up to 85 percent of your regular income
Optional features:
- increase your coverage later regardless of health status
- partial premium refunds with minimal claim activity
Individual disability plans can integrate with employer group plans and government income assistance plans like WCB, CPP or EI.
Businesses can also protect against the disability of their key people. Benefits can cover overhead expenses, simply provide a monthly supplement or even fund buy/sell agreements.