Disability insurance is designed to replace a portion of your income if you become disabled and are unable to earn an income.

A disability can result from a number of causes, including an injury, a serious illness or a mental health issue. And the duration of a disability can be either short- or long-term.

There are different kinds of disability insurance coverage, including individual insurance plans and group insurance plans, as well as government plans such as workers’ compensation and benefits provided under the Canada Pension Plan.

It’s imperative to protect your income and lifestyle you live and the retirement or legacy you may want to build. You need professional help to understand your disability insurance if you have one with a group (work) or individual plan.

There are two primary plans in Canada, one “Non-Cancellable” coverage which Insurance company cannot cancel your coverage after they issue and will pay the claims as agreed on the time of the application, and has many guarantees come with the plan.

Second is “Guaranteed Renewable,” this has many exclusions, and limitations and the company has the right to increase the premium for age group or a particular class of occupation based on their claim experience. This easy to get. However, at the claim time, you may have to prove your eligibility.


These are some of the vital information you have to check your disability plan.

  • What conditions the plan will pay the benefits?
  • What is the definition of the disability?
  • What is the amount they will pay, and will that reduce if you have other type benefits or income?
  • How long will the benefits pay?
  • How does your premium amount will be affected over the long-term period?

There are some more technical questions, and most importantly, you need to understand your current cash flow and what you need to replace your income if something were to happen to you or your loved one. Consult your advisor or contact us to help you plan in the right way.