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- 647-274-9670
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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.
- We can help with a range of options to choose from,age amount and term length you want.
- Canada Pension Plan (CPP) and Quebec Pension Plan (QPP) disability benefits are limited and may be more restrictive
- Many of plans provide return to work benefits such as rehabilitation, job retraining and other services to help you get back to work.
- Most employer-sponsored plans end if you leave your job.
WHY CHOOSE
POLICYDIRECT?
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.
Protect Your Retirement Savings
Can help you meet your financial obligations so you may be able to avoid dipping into your retirement savings.
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.
Canada’s Leading Insurance Broker
A simple promise : We'll be there when you need us most. When there is if in Life, you can count on PolicyDirect.
No Obligation, Financial Analysis
We can assist you in reaching your financial goals with personalized financial pathway that meets your unique needs & goals.
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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
Disability Insurance
How much does it cost?
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.
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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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