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Disability Insurance

 

Disability Insurance

Disability Insurance provides a monthly income in the event you are incapacitated, and incapable of working due to an injury or illness. Often called “Income Replacement Insurance”, this coverage is important for self-employed individuals. It is also for those without disability insurance via their employer.

Your ability to earn income may be compromised through injury or illness if you become disabled. Your ability to pay bills or save for retirement could decline. Disability insurance plans are designed to help you meet necessary income requirements enabling you to concentrate on recovering from your disability and returning to an active income-generating life.

Generally, disability benefits are received if you can't perform the duties of your own occupation, a similar job in your field, or any job at all. How soon and for how long you can collect benefits is determined in your policy contract.

Income protection can provide income for disabled professionals such as lawyers or doctors, small business owners like plumbers or carpenters, leading business executives, as well as full- or part-time or home-based workers.

Disability insurance benefits are payable on a monthly basis during a disability for the benefit period of the contract, which can vary. When you recover from a disability, the policy continues, usually payable again for a subsequent or recurring disability.

Most people are aware of the importance of life insurance, but rarely think about having a disability despite the statistics indicating they are quite common. Death is inevitable, while disability is probable at any given age.

 

 

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Disclaimer

Products or services related to investments, investment recommendations, financial planning, retirement planning, and investment reviews are provided through our mutual fund dealer Security Financial Services and Investment Corp.

Insurance sales are not conducted through Security Financial nor are they the business of Security Financial. Insurance sales are conducted through Allen Wong and Associates, a Managing General Agency

Head Office:
Security Financial Services & Investment Corp.
4665 Yonge Street, Suite 309
Toronto, ON M2N 0B4
Tel: 416-964-0440
Fax 416-964-0991

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