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Disability Insurance

Disability Income Insurance is a form of insurance that will pay the beneficiary a portion of their earned income that would be lost due to an injury or illness.

There are STD (Short Term Disability) Plans, and LTD (Long Term Disability) plans available.

Read David Willsie’s Disability Income Story

STD Plans are designed to replace a percentage of pre-disability employment earnings for periods of less than one year. The plans are coordinated with sick leave benefits, employee benefits, and Employment Insurance. They are also usually harmonized with LTD plans, so there is no interruption in benefits, should the disability extend beyond the term.

LTD plans focus on longer periods of disability that will replace a percentage of the beneficiary’s pre-disability income amount. The benefit period can last anywhere from two years to age 65.

Many employers offer disability insurance through their Group Plan Benefits. The sad truth is, far too many employees don’t even know if they have disability coverage. Many people just assume they have it, only to find out after it is too late, that it wasn’t part of their plan.

Who Needs Disability Income Insurance?

Any working individual earning an income should have disability insurance. Self-employed people, and employees not covered by group benefits, should have disability coverage. If you have coverage through your employer, it is important to know the details of the plan.

A disability due to an injury or illness can happen to anyone at any given moment and can change your life forever.

Read How to top up your Disability Income Insurance

Who or What can you count on if you were to become disabled today?

Disability Income Insurance is considered a ‘Living Benefit’. If you become disabled, you are going to have to go on living. Having a plan that is designed for you could make all the difference in the world. We can help.

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