Insurance & Investment Solution 
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Comprehensive coverage for 25 critical illnesses that can have a substantial impact on your daily life.
Disability insurance aims to substitute some or all of your income in the event of disability, arising from various causes like injury, serious illness, or mental health issues. Disabilities can be short- or long-term.
While Canadians often invest in auto and home insurance to safeguard assets, the importance of protecting income is often overlooked. Loss of employment due to injury or illness is a leading cause of mortgage defaults and savings decline.
– Injury-induced disability affects income
– Worker’s compensation limited to work-related accidents
– Unemployment insurance inadequate for serious injuries (15 weeks)
– Canada Pension Plan and Quebec Pension Plan offer limited benefits
– Group coverage may not be sufficient and could have disability-type restrictions
Considerations when buying disability insurance:
- Workplace Coverage:
– Check existing workplace coverage.
– Group plans often start after Employment Insurance for short-term disability. - Self-Employed Individuals:
– Self-employed individuals lack Employment Insurance coverage.
– Consider shorter waiting periods if covered by a group plan. - Coverage Amount:
– Decide on the desired coverage amount.
– Higher coverage correlates with higher premiums. - Benefit Duration:
– Choose a benefit period (e.g., 2 years, 5 years, or up to age 65).
– Longer periods increase coverage cost. - Policy Coverage:
– Specify coverage for accidents, sickness, or both. - Integration of Benefits:
– Understand integration with other benefits.
– Companies often integrate benefits to prevent excessive earnings during disability. - Planning Ahead:
– Plan to avoid surprises regarding integrated benefits.
– Ensure the selected coverage aligns with your needs and budget.
For personalized guidance on securing the best coverage, contact for further assistance.