DISABILITY INSURANCE

For most people, the chance of getting sick or injured and being unable to work, or having to reduce work hours, is substantially greater than chance of dying.  For most adults under age 65, working is a daily ritual and having a regular paycheque is taken for granted.

Not everyone has access to employer funded Short-Term Disability (STD) or Long-Term Disability (LTD).  You may also not be covered by provincial plans like Workplace Safety Insurance Board (WSIB), for example, self-employed professionals, truckers, trade persons or small business owners.

Something to consider:

• Your greatest asset is your ability to work and earn an income but after disability strikes, income reduces or stops but expenses does not, in fact expenses tend to increase.
• Disability can and does happen at a time you least expect it and other options like STD, LTD, WSIB, EI Sick Benefits or income replacement benefits due to motor vehicle accident are very limited and restrictive.
• Family's financial future is strained if the recovery is prolonged and your financial future may have to hold off until you recover.

Although few believe they will be affected by illness or injury, most know at least one person who has. A person who experiences a total disability must deal not only with functional and emotional trauma, but if Disability Insurance is not in place, he or she may suffer financially and even lose his or her assets.