Protect Your Income. Support Your Future.
Your income helps you manage everyday expenses, support your family, and plan for the future. But an unexpected illness or injury could affect your ability to work and earn.
Disability insurance can help replace a portion of your income if you become unable to work due to a covered disability, subject to the terms of your policy.
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What Is Disability Insurance?
Disability insurance is designed to help protect your income if an illness or injury prevents you from working. Depending on the policy, it may provide monthly benefits during an eligible period of disability, helping you manage financial responsibilities while you are unable to earn your usual income.
Income Protection
Help replace a portion of your income if you qualify for disability benefits.
Monthly Benefits
Receive eligible benefit payments according to your policy’s terms.
Financial Stability
Help manage ongoing expenses while focusing on your health and recovery.
Why Consider Disability Insurance?
Your regular income may be essential to your household’s financial well-being. If you are unable to work because of a covered disability, everyday expenses and financial commitments may continue.
- Help cover everyday living expenses.
- Support ongoing mortgage or rent payments.
- Help maintain family financial commitments.
- Reduce the financial impact of lost earnings.
How Disability Insurance Can Help
Disability insurance can be an important part of your financial protection plan if an illness or injury affects your ability to earn.
Income Replacement
Help replace a portion of your earnings during an eligible disability.
Expense Management
Help manage regular household bills and financial commitments.
Financial Protection
Add protection against the financial impact of lost income.
Personalized Coverage
Explore options based on your occupation, income, and financial needs.
Types of Disability Insurance
Disability insurance options can vary based on your employment situation, income, and financial responsibilities.
Individual Disability Insurance
An individual policy can help protect your personal income if a covered illness or injury prevents you from working.
It may be worth considering if you are self-employed, do not have workplace disability coverage, or want to review whether your existing protection is sufficient.
Group Disability Insurance
Group disability coverage may be provided through an employer or another eligible group arrangement.
Reviewing the benefit amount, waiting period, benefit duration, and policy conditions can help you understand how this coverage fits your needs.
Disability Insurance for Business Protection
If you own a business, your ability to work may be closely connected to its operations and financial stability. Business disability insurance options may help address certain financial risks if a disability affects your role.
Business Overhead Expense
May help cover eligible ongoing business expenses during a qualifying disability, such as certain operating costs, according to the policy.
Key Person Protection
May help a business manage the financial impact if an essential employee or business partner becomes disabled.
Buy-Sell Agreement Funding
Certain insurance arrangements may help fund a business ownership transfer following a qualifying disability, as outlined in the agreement and policy.
How Disability Insurance Works
When reviewing disability insurance, it is important to understand the key features that determine when benefits may begin and how long they may be paid.
Coverage Amount
The monthly benefit amount determines how much eligible income replacement you may receive.
Waiting Period
The elimination period is the time you must wait after becoming disabled before benefits may begin.
Benefit Period
The benefit period defines how long benefits may be payable if you meet the policy requirements.
Disability Insurance FAQs
Learn more about disability insurance and how it may help protect your income.
What is disability insurance?
Disability insurance is designed to provide income replacement if an illness or injury prevents you from working and you meet the policy’s definition of disability and other requirements.
Does disability insurance cover illness and injury?
Coverage depends on the policy selected. Some policies may cover disabilities caused by illness and injury, while others may offer more limited coverage. Review the policy terms to understand what is included.
How much income can disability insurance replace?
The benefit amount depends on your policy, income, eligibility, and insurer guidelines. Disability insurance generally replaces only a portion of income rather than the full amount.
What is the waiting period for disability insurance?
The waiting period, also called the elimination period, is the time between the start of a qualifying disability and when benefits may begin. The length depends on your policy.
Can self-employed people get disability insurance?
Individual disability insurance options may be available to eligible self-employed people. Coverage and benefit amounts depend on factors such as income, occupation, health, and insurer requirements.
Is disability insurance the same as critical illness insurance?
No. Disability insurance is generally designed to replace a portion of income when you cannot work due to a covered disability. Critical illness insurance may provide a lump-sum benefit for a covered diagnosis that meets the policy’s conditions.
How do I get a disability insurance quote?
You can request a quote to explore disability insurance options based on your income, occupation, and protection needs.
Explore Disability Insurance Options for Your Needs
Take a step toward protecting your income and financial responsibilities. Explore coverage options that align with your circumstances and goals.
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