Disability Insurance:

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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 ...
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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 ...
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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…)
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Buying Disability Insurance in Ontario: The Two Best Plans

Two of the leading disability insurance carriers in Ontario are RBC Insurance and Manulife Financial. RBC Insurance’s head office is in Mississauga, Ontario and Manulife's is in Waterloo, Ontario. They both have competing high-end plans geared towards the professional market. RBC's plan is called The Professional Series. Manulife plan is known as The Pro Guide Series. The following is a comparison chart pitting some of their plan features head-to-head: (more…)
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Disability Insurance vs. Critical Illness Insurance

Disability insurance, also known as income replacement insurance, provides a monthly benefit to the insured if he or she become disabled and can no longer perform a normal day's work as per the definition of disability in the policy. Disability insurance definitions are generally broken down into the following three categories: (more…)
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LSM Insurance: Disability Insurance Specialists

LSM can provide for all your disability insurance needs. LSM Insurance has been offering customized disability insurance solutions to Canadians since 1993. We have unique expertise in offering the following disability insurance solutions: 1. Disability policies for key employees or business owners 2. Insuring the hard to insure, individuals who have had past or current health issues. (more…)
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Understanding Long-term Disability Insurance

Disability insurance replaces an insured person's income in the event that he or she becomes disabled due to injury or illness. Most group policies break down disability insurance into short-term and long-term disability coverage. Short-term plans generally cover the insured from the first day of disability up to the 120th day. Whereas, most long-term group disability policies can cover the insured from 120th day up to age 65. Both short-term and long-term disability plans can work in ...
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Six Great Life Insurance Deals

Save money with the best life insurance deals Quite often people are presented with "Can't Miss Deals." Life insurance is generally not thought of as one of those opportunities, but those deals are out there. Don't believe us? Just take a look at these six life insurance deals: (more…)
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Partial Disability Benefits Versus Residual Disability Insurance Benefits

There is often a lot of confusion surrounding the difference between a partial disability insurance benefit and a residual disability benefit. Partial disability insurance benefits are paid to an insured person, who experienced a loss of time or duties as defined in their policy due to a partial disability, such as an injury that affects only one part of the body. The Insured person will be eligible for a flat percentage of their monthly benefit, generally a maximum of 50%. The ...
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Life Insurance versus Disability Insurance in Canada

Life insurance and disability insurance cover two distinctly different needs. Life insurance protects the insured family in the event of death, whereas disability insurance protects the insured in the event he or she is no longer able to work due to an injury or illness. The need for disability insurance is often underestimated and, in many ways, exceeds the need for life insurance. The risk of becoming disabled prior to age 65 is considerably higher than the risk of dying. An average ...
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