We never plan on becoming disabled, but did you know that one in six Canadians will become disabled for three months or more, before the age of 50? Even if you have group insurance, it may not be enough to cover the level of income replacement that you would need should you be unable to work due to illness or an accident.
In Canada, there are two main types of disability insurance coverage; Any Occupation and Regular Occupation. Any Occupation covers you if you are unable to work at any possible job, and Regular Occupation covers you if your disability prevents you from working in your current profession.
Both types of insurance are calculated as a percentage of your current salary, and are not subject to income tax, as long as you pay the premiums.
Contact me today to learn how you can protect your income before an unfortunate disability occurs. Call me, I can help.