disability insurance 

 Income Protection with Disability Insurance

Disability Insurance is a contract of insurance (a policy – either individual or group) that provides monthly benefits if the insured is unable to work due to an accident or sickness and, consequently, suffers a loss of earned income.

The likelihood of a person becoming disabled before age 65 is much higher than the likelihood of his or her death during that same time. For example, a 45-year-old male faces a 37% chance of being disabled for more than three months prior to attaining age 65. In contrast, the probability of death for this individual for the same period is only 3%.

We buy life insurance to protect our families from economic hardship in case we die, but what happens if we are injured or suffer a disabling disease and can no longer work? Are you protecting your greatest asset, the ability to generate income through employment?  Disability Insurance is the answer. 

 

EXAMPLES OF DISABILITY INSURANCE BENEFITS PAID BY CANADA LIFE

Age at Claim	Occupation	Cause of Disability	Years on Claim	Gender	Benefits Paid (Up to June 2009)
38	Lawyer	degenerative disc disease	4 Years	M	$288,000
39	Financial Advisor	major depression	8 Years	F	$700,800
39	Business Owner	back injury	17.5 years	M	$630,000
43	Business Owner	breast cancer/lymphedema	8.5 years	F	$147,900
45	General Manager	Multiple Sclerosis/blindness	12.5 years	M	$210,000
48	Pharmacist	chronic migraine headaches	6.5 years	F	$248,700
50	Clinical Researcher	shingles/post herpetic neuralgia	7 years	F	$380,400
53	Sales Rep	Post  Concussion Syndrome	17.5 years	M	$210,000 (Lifetime Benefit*)
55	Chiropractor	morbid obesity	9 years	F	$146,400
64	Doctor	injuries from horse accident	4.5 years	M	$139,590 (Lifetime Benefit*)

*Benefits continued after age 65

  (250) 390-1995  1-800-668-7558
 Zulak Financial Group Ltd.