Disability Insurance:

News from 2011

Disability Insurance: Understanding a Residual Disability Benefit

Residual Disability Insurance Benefits typically begin when the insured is able to return to their regular occupation in a limited capacity but have incurred a loss of earnings of at least 20%. Residual Disability Benefits differ from partial disability benefits, which are paid to an insured person who experienced a loss of time or duties as defined in their policy due to a partial disability. A partial disability could be characterized as an injury that results in a modification of ...
Continue reading

Life Insurance and the MIB

MIB does not stand for Men in Black in the insurance business. Instead, it's an acronym for theMedical Information Bureau, but they are rumoured to be just as secretive as the guys with black suits and sunglasses from the movies. They also could have a substantial impact on your insurance application. The Medical Information Bureau (now known as The MIB Group Inc.) is a cooperative data exchange formed by the North American Life Insurance Industry in 1909. MIB is the only insurance ...
Continue reading

Disability Insurance for Professionals: Consumer Review

An overview of disability plans available to professionals. LSM will be taking a look at a variety of insurance plans and we will dissect them on our website in an effort to show you the pros and cons of each. With this kind of clarity, we hope you'll be able to find the plan that's right for you and your family. (more…)
Continue reading

What Type of Disability Insurance Should a Doctor Buy?

What type of Disability Insurance Should a Doctor Buy? Buying a disability policy can be much more complicated than buying a life insurance policy. Aside from the fact that there are a wider range of options and variables. The definition of disability can different vary from contract to contract but can generally falls into 3 categories Any Occupation, Regular Occupation and Own Occupation. The latter being the gold standard for doctors especially specialists Three leading ...
Continue reading

Critical Illness Insurance vs. Disability Insurance: Why You Need Both

Critical Illness Insurance vs. Disability Insurance: Why You Need Both? In a previous post, we explained why critical illness insurance is now equal in importance to life insurance when it comes to inoculating yourself against the financial hardships that come with any critical illness diagnosis. A diagnosis of cancer, heart attack, stroke, or any other of the 20 to 25 illnesses a critical illness insurance plan typically covers, means a lump sum payment between $10,000 and $2 ...
Continue reading

IA Excellence’s Universal Loan Insurance, an Alternative to Creditor Insurance

IA Excellence's Universal Loan Insurance is a unique alternative to traditional creditor insurance. To qualify: 1. The insured must be between the ages of 18 and 59. 2. Hold full-time work or be on parental leave. 3. Be an individual or corporation. 4. Have a spouse who works full-time if they themselves are without paid work. (more…)
Continue reading