Disability insurance or income insurance
Also known as income protection or disability income insurance, is a type of insurance that provides financial coverage in the event that you are unable to work due to a disabling injury or illness. This coverage is designed to replace a portion of your income, helping you maintain your financial stability and meet their essential living expenses during the period of disability.
disability insurance overview
Covered disabilities.
Disabilities covered can include injuries, illnesses, and medical conditions that prevent the insured from performing their regular job duties.
Limits of coverage
You need to be employed with minimum monthly hours per month. The amount of coverage can never exceed your salary.
Coverage Duration
The Individual disability illness coverage plan duration span can be 2 years, 5 years or till retirement. it can complement advantageously your collective disability illness insurance from your company which duration is generally 2 years.
Must have protection for self-employed.
Self-employed workers with no insurance protections are more financially vulnerable in case of incapacity to work. disability insurance gives the peace of mind of a tax-free fixed income.