Disability Insurance

Disability Insurance

In my opinion, everyone should have a plan in place to prepare for a time your income ceases as a result of disability –either caused by accident or illness. Most people simply cannot visualise themselves as being disabled – and not being able to work. Simply put – you need a contingency plan!

You might say there are various government programs available such as Workers Compensation or Canada Pension Plan (CPP). Both these plans can be very frustrating and hard to qualify for (just ask anyone who has applied for Workers Compensation). In addition, WCB only covers disabilities as a result of accidents/injuries while on the job – typically you have coverage for only 8 hours a day. What if you fell off a ladder while painting your house? Sorry, WCB won’t pay because accident was not job related. Or what if you took a heart attack while on the job? Sorry, WCB would argue this was not an accident – it was an illness.

Canada Pension Plan generally will only pay if you are “extremely” ill or incapacitate on a permanent basis. Thus the likelihood of Canada Pension Plan paying you for any disability would be remote.

Or perhaps, you may want to call on friends or family. In that case I challenge to name 3 people who will help you out financially for any long period of time. Go ahead – Name them..

  1. Family or Friend:
  2. Family or Friend:
  3. Family or Friend:

So how did you do on that question?

If you are not comfortable with any of the above choices then contact us. We have a variety of products from many Insurance Companies and we will help you choose a plan that right for you and your budget. Some of our plans are Guarantee Issue in most circumstances, so that Disability coverage is assured.

NOTE To Small Business Owners and Self-Employed: Some of our plans can be accepted as a substitute for Workers Compensation coverage.

For more information and a no obligation quotation, please contact us for a comparison of available plans.