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Disability Insurance

Disability Insurance
WHEN THERE IS IF IN LIFE

Canada’s Leading Insurance Marketplace

Protect your paycheque, Protect Your Income and Your Lifestyle.

Your provincial health plan can help with the medical bills. But to replace lost income, you need disability insurance. Disability Insurance allows you to focus on your recovery while helping you take care of your financial obligations.

 

We’re sure you have had loved ones, friends, or co-workers suffer from an accident or illness that prevented them from working for weeks or maybe even months. When unexpected events occur, it’s difficult to watch people struggle financially due to loss of income. It’s much more difficult to accept if the person is you or your family member. What will a loss of income mean to you and your family? It would most likely be unpleasant, irritating, and even frightening. The great news is that Long-term Disability Insurance benefits will fill a gap in your cash flow.

 

Disability Insurance and benefits do not just cover unusual incidents.  Many claims are for health issues you may not recognize as impairments, such as physical injuries, stress, cardiac arrest, cancer, or any event that your doctor requires you to have bed rest or time off from work.

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WHAT IS DIABILITY INSURANCE

Protect your paycheque, Affordable Disability Insurance for Canadians

Disability insurance works when you can’t. It can give you tax-free monthly income to help pay expenses if an illness or accident stops you from working.It can give you a tax-free monthly payment to help replace your income and cover your expenses if an illness or injury keeps you from working.

 

While a disability can often be visible to the naked eye, not all disabilities are so easily recognized. Chronic pain or a mental health issue can also qualify as a disability.

WHY CHOOSE
POLICYDIRECT?

We Care About Your Life’s Important Things. Expert Advice with Superior, Honest Solutions – Reliable, Essential and Yearlong Service. At PolicyDirect, we’ve made the process of buying insurance as easy and painless as possible.
DISABILITY INSURANCE

Why You Need It ?

You’ve worked hard to get where you are today. If illness or injury prevents you from doing your job, you can help make sure your income continues uninterrupted.

It’s More Comon Than You Think

Up to 40% of Canadians become disabled for 90 days or longer before age 65.

Replaces Most Of Your Paycheque

Potentially receive up to 80-90% of your take home pay.

Protect Your Retirement Savings

Can help you meet your financial obligations so you may be able to avoid dipping into your retirement savings.

Return to Work Assistance Benefits

Receive services that can help you get back to your job.

Protected Against Unexpected

Protection and security for you and your family.

Right Plan @ Right Rate

We will get you right coverage. Pay only for what you need.

When There Is If In Life

You can count on us, wherever & whenever you roam .

How Does Disability Insurance Work?

Many Canadians received benefits from various Covid-19 income benefits like CERB. Where would families be financially if the government hadn’t stepped in with company loans and income subsidization plans during the Covid lockdowns. We all know many friends and relatives that received these benefits. Where would they be financially today if the government benefits were not provided. Maybe you received Covid benefits yourself. Disability benefits work the same way. In the unfortunate event that you lose your job due to accident or sickness you can make a claim and receive benefits.

  • Choose the amount you want and add optional benefits to customize your coverage.
  • Pay your monthly premium.
  • File a claim if you become disabled.
  • Receive your monthly payments when the waiting period ends. The waiting period is the number of days from the date you’re disabled until the benefit start date.
  • Your payments stop when your benefit period ends or you return to work.
Customized Insurance Offering By Policydirect

Policydirect compare products and pricing across several insurance companies and suggests thatfits your requirements.

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A simple promise : We'll be there when you need us most. When there is if in Life, you can count on PolicyDirect.

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We can assist you in reaching your financial goals with personalized financial pathway that meets your unique needs & goals.

Pain-Free Insurance Solutions For Everything

Get your auto, Property, Travel, Life, Health, Business insurance quote. Your one-stop-solution for all your insurance needs.

Protect Your Most Valuable Asset?

Your ability to earn an income over a 30- or 40-year career, is your most valuable asset. Here’s an idea of what you could earn over the rest of your working life based on your age and current salary. This chart assumes a 2.5% raise every year and that you’re working to age 65.

.
$70,000
$90,000
$120,000
$150,000
$200,000
$250,000
Age 30

$3,844,975

$4,943,539

$6,591,385

$8,239,231

$10,985,641

$13,732,051

Age 40

$2,391,043

$3,074,199

$4,098,932

$5,123,665

$6,831,553

$8,539,441

Age 50

$1,255,235

$1,613,873

$2,151,831

$2,689,789

$3,586,385

$4,482,981

How Much Income Can You Get?

The following chart shows the maximum amount you could receive tax-free each month if you faced a disability. These are just estimates – the amount you’d actually receive depends on specific circumstances, like your age and occupation.

Annual Income

$35,000

$50,000

$100,000

$120,000

$140,000

$200,000

$300,000

$500,000

$1,000,000

Maximum Monthly Benefit

$2,200

$2,975

$5,200

$5,925

$6,625

$8,550

$11,350

$16,050

$25,000

What Does The Government Give You?

You can get disability coverage through the Canada Pension Plan (CPP) and Quebec Pension Plan (QPP) but they provide limited benefits.

Strict Definition

You must “have a severe and prolonged mental or physical disability” to qualify for CPP disability benefits. You may be able to get disability coverage through Canada Life under a more relaxed definition.

Lower Monthly Benefit

The CPP’s average monthly benefit is $966.43 and the maximum in 2019 is $1,362.30.

Do you need disability insurance if you have it through your employer?

Group insurance is a great start, but it usually only provides basic coverage. A personal disability policy complements group insurance – together, they can help protect you, your family and your lifestyle should the worst happen.

.
How much coverage do I get?
How flexible is it?
Can I change my coverage?
What happens if I leave my employer?
How much does it cost?
Will the cost ever change?
Group Coverage

Coverage amounts are often limited

Your employer often picks the coverage options

Typically, you can make change once a year or if there’s life-changing event

Your coverages ends unless there’s an option to convert to individual coverage

Typically, it’s low cost

Costs can change every year

Individual Coverage

You choose your coverage amount

You choose the coverage amount and how long you need it

Yes, you can adjust coverage

Your coverage stays the same because it’s not tied to a job or membership

Typically, it’s higher cost than group coverage

Costs stay the same for the duration of your policy

We make it happen

HOW POLICYDIRECT WORKS?

At POLICYDIRECT, process of buying insurance as easy and painless as possible. in just a few minutes you could be on the way to obtaining right coverage, protecting your loved ones, and having the peace of mind knowing we haveprotected you and your family.

STEP 1 - QUICK QUOTE

Get the Best quote from all major insurance companies

STEP 2 - QUICK GUIDE

Get free advice from our advisors on product for your unique needs.

STEP 3–SUBMIT APPLICATION

Submit your application, get approved and deliver your policy.

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Committed to Savings

Insurance For Car, Home, Travel, Life & More, Get the most accurate estimate for your insurance needs.

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