Disability Insurance:

Latest posts

Disability Insurance: How Does the Future Income Option Work?

Disability insurance is available to young entrepreneurs without a medical exam. Disability insurance along with life insurance forms the foundation of a solid financial plan. But what about young entrepreneurs? In 2012, more than half a million people told CIBC that they had started their own business in a poll. According to theToronto Star,researchers at the Organization for Economic Cooperation and Development found that among all new enterprises that survived after three years, ...
Continue reading

Disability Insurance Horror Story

David Egglesfield can no longer work as a pharmacy technician. Stopping Motion David Egglesfield had the boss from hell. As a pharmacy technician at the Rouge Valley Centenary Health Centre in Toronto, he was constantly subjected to her regular physical and mental abuse. "She'd give me the worst jobs and she'd say, 'I'm talking you off the schedule, you're going to do what I tell you to do!" says Egglesfield."One day, she actually came up to me and said, 'You know, I think you're a ...
Continue reading

In a Fight With an Insurance Company: What Are Your Options?

When you're in a dispute with an insurance company, what you do first should depend entirely on the type of claim you have. This could be a personal injury claim, a contractual claim, a long-term disability claim, or a property claim. They all lead back to the insurance contract, but there are different resolutions depending on the type of claim you have. Property Damage Probably the most common type of claim is property damage claims. "Your first line of resolution ispresenting the ...
Continue reading

Comparing the Four Types of Living Benefits Insurance

Living benefits are health-related insurance plans. Living benefit insurance is very different from life insurance because it pays out if the insured develops a type of injury or illness. Living benefit insurance policies generally come in four distinct types: Disability Insurance, Critical Illness Insurance, Long-term Care Insurance, and Health and Dental Insurance. For your benefit, we've provided a summary of each coverage category. 1. Disability Insurance:This living benefit ...
Continue reading

Disability Insurance for Doctors

According to the Canadian government, there are 111,843 doctors working across the country. General practitioners and family physicians make an average of $79 an hour while specialists take in about $117 an hour. In terms of disability insurance for doctors, there are many factors to consider. The following are three of the most important: 1. The Financial Strength and Reputability of the Insurance Company. Disability insurance is a promise to pay, so the insured wants to make sure that ...
Continue reading

Protecting You and Your Family If You Become Disabled

Stress-free disability insurance Photo Sarah May Scott Update: Oct. 2, 2015 When this post was originally published, BGS had ceilings on coverage levels, $500,000 for the Life Protection and $3,000 per month for the Disability Protection. They have since been able to get those coverage limits removed. So applicants can now purchase as much coverage as they qualify for based on their income for Disability Protection and outstanding mortgage loan amount for Life Protection. Bingham ...
Continue reading

How Does a Group Disability Insurance Offset Work?

Individuals who are looking at augmenting their individual disability insurance but who also have group disability insurance should be aware of how group offsets work. Group insurance offsets protect the insurance company from over-insuring individuals for disability insurance. If an individual has group disability insurance coverage, their individual disability insurance may be offset by their group coverage. (more…)
Continue reading

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