Disability insurance helps provide replacement income if you are unable to work because of sickness or injury. It can help:
- Replace lost income.
- Subsidize living expenses while you are unable to work.
- Provide security for your family.
- Benefits are calculated as a percentage of your usual salary and are tax-free in most cases.
- The monthly income you receive while on disability.
- You can receive disability benefits from 2 years to the age of 70.
- The waiting period before your first payment.
- Top-up benefits if you are unable to perform your old job but can still work in another role.
- Cost of living option to insure that your benefits keep pace with cost of living increases.