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.

Many consumers and brokers don't look into disability insurance because they feel the product is too complicated or will not pay out a claim time.  This can be a fatal error that could put you and your family behind the eight ball.  The chances of someone become disabled are much higher than dying during your working years. Finding the right plan is not easy but is certainly possible with right broker who has expertise in the disability insurance market and understands the protocols and underwriting criteria for the major players.

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

1. 

   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.

2. 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.

3. Canada Life's Disability Plan: Four Features for Future Fortunes
   Canada Life Assurance Company offers: lifestyle protection plan, independence plan, overhead expense plan, and a buy/sell plan.

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

5. RBC Insurance's Disability Plans: Professional and Quantum
   RBC has four primary income replacement plans. The first is the Professional Series and their second plan is referred to as the Quantum Policy.

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

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

8. 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.

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