Disability & Critical Illness Insurance in Saskatchewan
Whether you are dealing with an unexpected injury or a serious diagnosis, our living benefits solutions ensure Saskatchewan families and business owners stay financially stable when they can’t work. Get the coverage you need to focus on recovery, not bills.
Pro Tip: To calculate how much coverage you may need, add up your essential monthly bills (housing, food, and transport). Subtract any passive income you’d still receive, like rentals or investments. The gap that’s left is what your disability policy should cover to keep your lifestyle on track.
Who Should Consider Living Benefits?
Life can change in an instant. Understanding your financial safety net is crucial when determining which coverage best suits you.
Ask yourself if you have:
- ✓A Mortgage or Rent: Could you keep your home if your monthly paycheck stopped for six months?
- ✓A Business or Employees: Overheads and payroll don’t stop just because the owner is recovering from an illness.
- ✓Limited Work Benefits: Many employer plans only cover a fraction of your salary or don’t include critical illness.
Personal Health & Dental Coverage
From prescription drugs and dental visits to massage therapy and vision care, get the coverage that fills the gaps in provincial health care.
Frequently Asked Questions
Does CPP cover disability in Saskatchewan?
While the Canada Pension Plan (CPP) provides some disability coverage, it is often limited. To qualify, a disability must be “severe and prolonged,” meaning you are unable to work at any occupation. Furthermore, the basic monthly benefit is only around $598.49, with a maximum of $1,673.24, which is rarely enough for Saskatchewan families to maintain their standard of living.
What are the chances of becoming disabled before age 65?
The statistics are higher than many people realize. Roughly 40% of Canadians will experience a disability lasting 90 days or longer before they reach age 65. Additionally, one in three Canadians will face a life-altering illness, like cancer or a heart attack, during their lifetime.
Can I have both Disability and Critical Illness insurance?
Yes, and for many people, having both is the best strategy. Disability insurance replaces your monthly paycheck if you can’t work, while Critical Illness insurance provides a lump sum to cover immediate costs like medical travel, specialized treatment, or paying down your mortgage.
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