Disability Insurance
Your ability to earn income is your most valuable asset. Disability insurance is designed to protect you from a possible loss of income. What’s the possibility of this happening? Below are some statistics on disabilities occurring at different life stages.
Chances of becoming disabled for 3 months or longer before age 65*
Chances of becoming disabled for 3 months or longer before age 65*
- Age
- 25
- 30
- 35
- 40
- 45
- 50
- 55
- Percentage (%)
- 58%
- 54%
- 50%
- 48%
- 40%
- 30%
- 23%
* Derived from 1985 Commissioners Individual Disability Table A.
Why should you consider personal disability insurance?
- Worker’s Compensation only covers work related accidents.
- Unemployment insurance only covers 15 weeks.
- Canada Pension Plan: Are you comfortable relying on the government for a benefit that can change?
- Group and association coverage can fill a valuable role in long-term disability protection.
However, the benefit may be limited by the definition of disability and coverage amount.
Remember, a custom designed individual disability plan will provide you with guaranteed coverage and guaranteed premiums.
