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