Disability Insurance

Sudden illness and serious accidents can result in the loss of income, which is critical to most people and their families.

Disability insurance provides protection against this by paying a monthly benefit when unable to work (as opposed to critical illness insurance, which pays out a lump sum of cash even if you are able to go back to work).

General Disability Insurance Features:

  • Replacement income if you become ill or are injured.
  • Disability insurance varies, depending on your occupation: the more dangerous your job, the higher the premiums and limitations.
  • The amount of coverage usually can’t be more than 2/3 of your current earnings
  • The paid benefits from an insurance claim is tax free .
  • Benefit period can vary, anywhere from 2 years, up until the age of 65.
  • After 65 coverage may continue, although the insured must continue to work.  Coverage may be modified.

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