Disability Insurance Quotes in Canada
What is disability insurance?
Disability insurance is designed to replace a portion of your income if you become disabled and are unable to work. Disability insurance helps cover your loss of income by providing you with a monthly payment for a certain period of time if you're unable to work due to an accident or illness. There are two types of disability insurance, long-term disability insurance and short-term disability insurance.
Long-term disability insurance generally covers you from the 120th day (or other specified waiting period depending on your policy) to traditional retirement age. Short-term disability insurance usually only covers you for the first 120 days of a disability.
Who needs disability insurance?
Disability insurance can help to make ends meet if the need arises. Even if you have group disability insurance coverage a work you need to be clear on what that covers. The definition of disability in the policy, what the insurance covers and the length of coverage are all important questions to ask.
Disability benefits from the Government of Canada can help supplement your other sources of income if you are living with a disability. However, Employment Insurance benefits only offer up to 15 weeks of sickness benefits. Disability Insurance therefore adds that peace of mind that your income will be covered if you need it.
How Much Does Disability Insurance Cost?
Disability insurance coverage varies from each individual. Your age, gender, amount of coverage and health status are important factors in determining your disability insurance premium.
A Billyard Insurance Group broker can provide you with a quote in just a few minutes after they have asked you a few questions about your requirements.
How Do I Get a Disability Insurance Quote?
Our BIG brokers understand that talking about finances and future planning can be a bit of a tough topic. We want you to be prepared for the future so you can be sure you’re protected no matter what happens. Chatting with a BIG Life Broker is your first step to that peace of mind. Complete the contact form on our website or give us a call today for a free consultation!