Disability Insurance
What is Disability Insurance?
Your most valuable asset isn’t your home or car; it’s your ability to earn a living. Disability insurance steps in when you can’t work due to illness or injury.
It provides a tax-free monthly benefit, replacing a portion of your earnings to cover your expenses. Disabilities can be visible or invisible, like chronic pain or mental health issues, making this insurance crucial for various situations. of the printing and typesetting industry.
How Does It Work?
In case of disability, file a claim and wait for the waiting period (30 days to a year) to pass. After that, your monthly benefit begins, replacing a percentage of your paycheck.
Disability insurance comes in two types: short-term (up to 6 months) and long-term (up to 120 months or to age 65). Government programs might not cover all your needs, making individual disability insurance vital.
Why Is it Important?
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Common Occurance:
Up to 40% of Canadians face disability before 65 -
Financial Security:
Receive 80-90% of your take-home pay, preventing the need to dip into retirement savings.
Cost Factors
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Coverage Amount:
Higher coverage means higher costs. -
Benefit Period:
Longer payment duration increases costs. -
Waiting Period:
Waiting longer reduces expenses. -
Age:
Lower costs for younger individuals. -
Health:
Better health means lower expenses. -
Occupation:
Risky jobs can lead to higher premiums.
Don't overlook your ability to earn; secure it with disability insurance tailored to your needs.
Procedure for maturity claims
If your signature has changed over the years, please send us your three specimen signatures of old and new styles Immediately on receipt of above documents, we will process the case further for payment of amount due, if any, against maturity claim under above policy.
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Original policy
document -
Copy of
Identity card -
Maturity discharge
voucher
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