Disability Insurance

Disability Insurance provides a monthly income in the event you are unable to work due to an injury or illness. This type of coverage is crucial for self employed individuals and people who do not have disability insurance through their employer.

Below is a list of disability policies of leading Canadian life insurance companies

1. AXA's Disability Insurance Policy: A blue-collar plan
   AXA’s disability plan has some attractive features, but is geared toward the blue-collar market. It is not appropriate for higher income earners, as the monthly benefit is limited to a maximum of $3,500.

2. Canada Life's Disability and Critical Illness Plans: Two Needs, One Discount
   Canada Life’s Dual Solutions premium reduction allows clients to satisfy two separate needs and receive a 5% discount on each product.

3. Canada Life's Disability Plan: Four Features for Future Fortunes
   Canada Life Assurance Company offers four types of disability plans: lifestyle protection plan, independence plan, overhead expense plan, and a buy/sell plan. Its flagship disability product is their lifestyle protection plan.

4. Disability Insurance: Canada's Forgotten Insurance
   If you're under 65, you're 60% more likely to become disabled than you are to die. Disability insurance.

5. Don't Underestimate The Importance of Disability Insurance
   Why is it often more important to have proper disability insurance than life insurance?

6. Great-West Life's Disability Pans: Professional, Boss Plus, Competitor and Protector
   Great-West Life has four disability plans. Their Professional plan is high-end disability insurance geared toward professionals, business owners and key employees.

7. Industrial Pacific's Disability Insurance Plan: Gain Momentum
   The Momentum plan provides income replacement coverage from $500 to $4,000 per month in the event of a disability due to injury. The plan has three waiting period options—0 days, 30 days or 120 days, and a benefit period of 2 years or to age 60.

8. RBC Insurance's Disability Plans: Professional and Quantum
   RBC has four primary income replacement plans. Two of the plans are geared toward the professional market—the first is the Professional Series and their second plan is referred to as the Quantum Policy.

For more information on Disability Insurance be sure to check out our Critical Illness and Disability Insurance Tips!