Disability Insurance

Be Prepared with a Personally Insured Income Plan for Disability

Earning potential may be the single most vital asset you have. If something happens that disables you for any length of time, you need the security of knowing you will have financial support available when you need it most.

Individual disability insurance replaces the income you lose if you are unable to work because of an accident or illness.

What Is Disability?

Understanding what will make you eligible for disability insurance is the most important feature of your policy.

Typically, a condition of disability is defined in the insurance industry as:

  • When injury or illness renders you unable to perform essential duties of the occupation you have been working in or have trained for.
  • When you are unable to perform the important tasks in your regular line of work or find gainful employment in another occupation.

You can be eligible for disability income through your individual disability insurance plan.

Why Should You Consider Individual Disability Insurance?

  • Worker’s Compensation only covers work-related injury or illness.
  • Unemployment insurance may not cover the entire period of your recovery.
  • Canada Pension Plan takes 3 months to process an eligibility claim, and the disability must be severe and prolonged.
  • Your group disability benefits may be limited by the terms of eligibility and coverage amount, and ends when you leave your employer.
  • Your individual disability plan comes with guaranteed premiums and coverage.
  • Your disability plan can help maintain retirement savings if you have to stop contributions because of total disability.
  • Options are available that can proportionately compensate you when your sickness or injury is not severe enough to keep you totally disabled but you are still losing earnings.

Don’t let injury or illness interrupt your well-planned and secure financial future.

Talk to an HFG insurance advisor about your individual disability insurance options. We’ll help you choose the plan that best suits your needs.

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