Disability Insurance

Disability insurance protects your income in case you cannot work because of illness or injury. Your earning potential is a far more valuable asset than your automobile or your home. Disability insurance is designed to protect you from the possible loss of income.

Disability insurance is so important to have for the following reasons:

  • Worker’s compensation only covers work-related accidents
  • Unemployment insurance only covers 15 weeks
  • Canada pension plans can change
  • Employer group coverage may be limited by the definition of disability and the coverage amount

Product Features and Benefits

  • If you are unable to work due to illness or injury benefits start after a waiting period and last for the duration of the contract up to age 65 or 70
  • Generally speaking up to 70% of your gross income can be protected
  • We offer plans that are designed for various professions 
  • Business owners can add “over-head” insurance – covering business expenses (lease costs, hydro, employee wages, etc.) while they are sick or hurt
  • Business owners can deduct the cost of disability as a business expense
  • Plans can be customized to suit your specific needs
  • Some plans are available with “premium refund riders” where up to 40% of your premium is refunded should you not make any claims every eight years
 

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