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Disability Insurance

Disability insurance compensates your income if an illness or accident prevents you from working. This type of insurance provides you with a portion of your regular income, usually a percentage of your salary, while you are disabled. The amount you receive, and the duration of payments depends on the insurance you purchase.

Disability insurance can help cover living expenses such as rent, mortgage payments and utilities, as well as potential medical expenses. to be born with a disability. This is essential insurance for anyone who relies on their income to cover living expenses. This provides a monthly tax-free income to cover expenses. You can customize your insurance coverage by adding various benefits at an additional cost, such as premiums that reimburse up to 50% of your annual premiums. The cost of living adjusts the monthly disability each year to contain inflation. Your advisor will help you choose the fringe benefits that are best for you.

Disability Insurance Highlights

Income Replacement

Disability insurance provides essential financial protection by replacing a portion of your income if you become disabled and unable to work. This ensures that you can maintain your lifestyle and meet your financial obligations during the period of disability.

Flexible Benefit Options

Disability Insurance offers flexible benefits to suit your needs. You can choose a waiting period between the start of disability and the start of benefits and a benefit period, which determines how long benefits will be paid. By setting these options, you can strike a balance between premium affordability and extended coverage.

Occupational Insurance

Certain disability insurance policies provide coverage for your occupation and consider you disabled if you are unable to perform the duties of your occupation. This provides stronger protection and recognizes the unique skills and requirements of your profession.

Rehabilitation and work support

Disability insurance often includes rehabilitation and return-to-work programs. These programs help you recover from your injury and return to work. They can provide vocational training, job search assistance and support services to facilitate a smooth return to work.

Tax-Free Benefit Payments

In Canada, disability insurance benefits are generally tax-free. This means that the profits received are not subject to income tax. As a result, your disability income covers your financial needs without additional tax liability.