Disability Insurance

Disability insurance acts as your financial savior when you’re unable to perform your occupational duties due to a short-term or long-term disability. Your income helps meet your family’s financial needs and maintain your quality of life. But when you become disabled due to an injury or illness and are no longer able to work, you may lose your income support and find yourself in a financially devastating situation unless you have a disability insurance policy.

Disability insurance keeps your income support intact when you can’t work due to a disability resulting from an injury or handicap. Your disability plan protects your income by paying you a fixed living benefit monthly or a lump sum of money as a single cash payment.

Different disability insurance plans

Disability insurance providers in Canada offer a wide range of disability plans to citizens. No matter the nature of the disability (short or long-term), Canadians can choose a suitable disability plan that can ensure their financial stability. Disability insurance is also available for Canadians above 65 years.

Here is the comprehensive list of 6 different disability insurance plans available for Canadians

Short-Term Disability Plan

Protects your income in case of a short-term disability spanning 15 to 52 weeks. This plan pays you out on a monthly basis until you become able to do your job again.

Long–Term Disability Plan

Replaces your income for more than 12 months. This plan protects your income up to age 65. It’s a good choice for people who have a long-term disability and not expecting to get back to work in a few years.

Self-employed Disability Plan

It’s a specially designed disability coverage for self-employed people, such as businessmen. This disability plan covers your business and quality of life when you can no longer run your business.

Disability Plan for People over 65

As the name implies, this plan covers Canadians over 65. It’s a good choice for people who’re planning to retire late in life.

Non-cancelable Disability Plan

It’s a disability insurance policy that cannot be canceled by anyone except the policyholder themselves. The non-cancelable plan guarantees premium payments to insured Canadians.

Guaranteed Renewable Disability Plan

This disability plan can be renewed even after a claim has been made. It’s a perfect plan for Canadians who want continued coverage throughout their life.

For the most affordable and tailor-made disability insurance policy, Juggernaut Finance is the name You can trust.