Not many of us expect to be affected by a disability, yet disabilities are very real possibility in life that can be financially devastating.
Your income is your most valuable financial asset!
Accidents can happen when you least expect them. An injury or accident can affect you financially and your ability to work.
Your health is really your wealth.
Starting in this business September 1, 1991, I was asked a simple question: if one had a goose that laid solid gold eggs, would it be smart to insure the goose or the eggs? I think most people would agree that the answer is the goose.
Is your ability to earn income protected?
If you are disabled, where will this money come from?
Your parents, your spouse, RRSP and savings, loans and credit, Government disability benefits, sale of assets, borrowing from family and friends or group disability insurance.
We offer individual, non-cancellable disability insurance from companies that offer plans with flexibility and features to help bridge the gap between income and expenses during a disability.
We will help you calculate how much monthly coverage you will need by completing a simple needs analysis based on your individual situation.
The disability policy will pay you a tax-free sum each month you are disabled, which is a portion of your income until you are able to work again or, in a severe situation, benefits until age 65.
Expenses may increase significantly during a disability for you and your loved ones. The disability may, in fact, result in the loss of more than one income. An example may be a spouse giving up their work to be a caregiver to their partner.
Most Canadians may not realize that their group long-term disability benefits, association benefits or government benefits, such as the Canada Pension Plan, may not provide them with adequate income replacement in the event of a disability.
What is your income replacement ratio?
This can be calculated by taking your annual tax-free disability benefits divided by your annual gross salary and multiply this by 100 to figure out your %.
We can help you take the guess work out of how much coverage you should consider.
