Unfortunately, unlike many of our childhood heroes, we aren’t invincible… we can’t all be Superman or Batman, yet we still pretend like we are. The thought of an injury is the last thing that’s on our mind; yet we still have no problem helping a friend move, playing sports on the weekend, or doing chores around the house from the never ending “Honey Do- List”.
But what if we were to become injured off the job? What if we could no longer pay our mortgage, bills, and overhead? Being disabled inhibits our ability to work, which in turn inhibits our ability to afford our lifestyles. We have no issue insuring our house, and our car; yet we don’t always see the importance of insuring our biggest asset… which is OURSELVES. Disability Insurance allows you to protect YOUR income in the event YOU become disabled.
BUT I THOUGHT I’M COVERED THROUGH MY WORK DISABILITY PLAN?
This is a question we come across a lot, and often times the client is right. They are covered through their work plan. However, the problem with work plans are: They typically don’t pay nearly as much as your current income, the definition of “Disability” is somewhat of a grey area, and the length of time you are actually covered for is far less than the actual need. Work plans can sometimes be confusing to understand what you’re covered for, so we assist you in putting a policy in place that compliments your work plan, and gets you the coverage you need.
The risk of Disability is far more common than you think –
Disability in Canada:
About 4.4 million – or one in seven Canadians – have a disability. That number is expected to grow to ONE in FIVE in the next generation. (Participation and Activity Limitation Survey, 2006)
Disability types measured by Statistics Canada: In Statistics Canada’s 2012 Canadian Survey on Disability, the top 10 disability types captured are seeing, hearing, mobility, flexibility, dexterity, pain, learning, developmental, mental/psychological, and memory.
Often time’s people will associate an injury with being disabled; yet as mentioned above, there are many types of Disability that can occur over our lifespan.
The BEST WAY TO PREPARE FOR THE FUTURE IS TO TAKE CARE OF THE PRESENT
Unfortunately, when applying for Disability, past injuries may be excluded from your policy. This is why it’s important to put a plan in place that suits your needs, and covers you from any unforeseeable injuries before they happen. This will give you peace of mind when doing all those enjoyable “Honey Do-Lists.”