Disability Insurance
Disability insurance pays out a monthly amount to prevent you from tapping into your savings so you and your family can keep paying your bills and maintain the same standard of living in the short- or long-term.
If you have an income stream that is not protected by your employer in case of sickness or injury, or you have self-employed business income and want to protect it from interruptions, then this insurance is for you.
Are you protecting your most valuable asset?
What would you say if someone asked you, “What’s your most valuable asset?” It might be your home, or maybe even your car. But have you considered that it might be your ability to earn a living? Over your lifetime, that’s worth far more than your house or car. While it’s very likely you have insurance to protect both your home and car, do you have anything to cover your income if the unexpected strikes? Could you cover day-to-day expenses if you became disabled?
Let’s look at some statistics of disabilities:
Disabilities are a fact of life:
- The odds are 1 in 3 you’ll become disabled for 90 days or more before age 65.
- 75% of claims are for musculoskeletal injuries (like fractures, dislocations and sprains) and nervous disorders (like depression and anxiety).
- The average length of a disability is 5.75 years if it lasts longer than 90 days.
Protect your paycheque
Disability insurance works when you can’t. If an illness or accident keeps you from working, disability insurance can give you a monthly income to help pay for ongoing expenses. It replaces a percentage of your earnings over the short or long term.
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