Although the Canada Pension Plan (CPP) does provide disability coverage, its benefits come with certain limitations. The average monthly CPP disability benefit for 2016 is $933.82, with the maximum amount being $1290.81.

However, our disability insurance plans offer significantly higher benefits. To qualify for the CPP disability benefit, one must sustain a severe and prolonged mental or physical disability and be unable to work at any occupation.

• Select your desired coverage amount and tailor it with additional benefits per your preferences.
• Make timely monthly premium payments to ensure your coverage remains active.
• In case of disability, file a claim to initiate the process of receiving monthly payments once the waiting period ends.
• The waiting period is the duration from the disabled date to the benefit start date.
• Your payments will halt when your benefit period ends, or you resume working.

Your disability benefits are intended to ensure that you and your loved ones can maintain a comfortable standard of living as if you were still employed full-time.

Calculate your fixed monthly expenses, including food, housing, transportation, etc.

Then, deduct any income you will receive from other sources during your disability, such as investments, rental property, or other disability insurance policies. The resulting amount is the amount you require.

Disability insurance is particularly well-suited for those who fall into specific categories: self-employed individuals, contractors, or part-time workers needing protection against injury and illness. If your profession involves extensive physical exertion, such as construction, nursing, or physical therapy, and requires you to be on your feet consistently throughout the day.

Moreover, if you wish to enhance your existing group plan’s benefits, disability insurance offers an ideal solution.

Critical Illness coverage offers financial compensation for cancer, stroke, heart attack or other debilitating illnesses. Such illnesses can sometimes require recovery costs and even force a leave of absence from work.

Therefore, when you establish your policy, you can choose the coverage that meets your specific needs, as recovery costs can vary.

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