Disability Insurance provides a monthly income in the event you are unable to work due to an injury or illness. This type of coverage is crucial for self employed individuals and people who do not have disability insurance through their employer Your earning potential is a far more valuable asset than your automobile or your home. Disability insurance is designed to protect you from the possible loss of income. What's the possibility of this happening? It's more than you'd imagine. Why should you consider it? It's the only sure way to provide guaranteed coverage and guaranteed premiums.

Why should you consider a personal disability insurance plan?

* Worker's Compensation only covers work related accidents.

* Unemployment insurance only covers 15 weeks.

* Canada Pension Plan: Are you comfortable relying on the government for a benefit that can change?

* Group and association coverage can fill a valuable role in long-term disability protection. However, the benefit may be limited by the definition of disability and coverage amount.

Features of Disability Insurance

* Provides tax-free income if you become sick or injured.

* Ideal for anyone who earns an income and does not have disability insurance through their employer.

* Unlike plans provided through employers that can end at any time, personal disability insurance plans cannot be taken away from you.

* Depending on your profession, it could provide income during times of inability to perform your "own occupation," even though you are working other jobs.

* Benefit period (the length of time money is paid during your disability) can vary from 2 years to age 65.

* The waiting period before your first cheque arrives can be selected as 30, 60, 90, or 120 days.

Major Uses of Disability Insurance

* Replace lost income during times of disability.

* Provide money to pay business overhead in your absence.

Why Do I Need Disability Insurance?

Most people are unaware of the startling disability statistics. Often they have purchased life insurance to protect their families in the event of death.

In fact, the odds are far greater that a person will become disabled in a given year than that he or she will die. There is at least an eight times greater chance of suffering a disability of at least 90 days as compared to the chances of death (up to age 37). While death may be inevitable, disability is more probable at any given age.

If you have further query feel free to contact Canada Insurance Plan