Everything You Need To Know About Disability Insurance Canada
If you’re the bread-winner of your family, your earning power is your greatest asset. But what happens if something unexpected happens that forces you to stop working? Disability Insurance is a type of insurance that will provide an amount of money to those people who are forced to stop working due to an unexpected illness or an accident. Disability insurance will provide a monthly income if something unexpected happens to you and forces you to stop from earning.
Make sure you buy your insurance policy from the best Insurance Companies Calgary! We will help you get the best policy that will fit your budget.
What Is Disability Insurance?
Many call this insurance as the “income protection insurance”. Depending on the type of disability insurance you buy, it will offer you protection against loss of income by providing a monthly pay if you become ill or disabled.
Usually, disability insurance policies pay you 50 to 80 percent of your regular monthly income. So if you earn around $6,000 CAD per month, depending on the policy you buy, in case something happens to you, your policy will still hand out at least $3,000 CAD per month.
The insurance policy that you have will provide you a paycheck per month until you get back on your feet or until the end of your coverage.
You Need It!
With the fact that you live on your paycheck, but what if something goes south? What will you rely on? It will surely by hard for you to digest the loss of income unless you already have huge bank balance. Disability insurance is a must have if your family solely depends on your income. It will be important for you to take care of your family, and it will be really hard for you and your family to survive in case something unexpected happens.
Benefits Of Disability Insurance
To get the best disability insurance policy, choose the Best Insurance Company Calgary Downtown!
1. Percentage Income
Depending on your policy, you could get up to 50 percent and 85 percent of your current income. But remember, most of the benefits that come in disability insurance are only available for a limited amount of time.
2. Cap Benefits
For an example, if you are earning nearly $9,000 per month, your disability insurance policy could provide you benefits of up to $5,000 per month.
3. Duration of Benefits
Depending on what type of insurance you get, your disability insurance policy can cover you until you reach your retirement age.
Where Can You Use The Money That Comes From The Disability Insurance?
The monthly pay you will receive from your insurance policy can help you cover your day-to-day expenses. This includes your debts, medical bills, trainings, and many more. Some policies allows you to use your money to help you regain your physical well-being, this means you are allowed to use the money for rehabilitation.
Make sure you buy your insurance policy from the best Insurance Companies Calgary! We will help you get the best policy that will fit your budget.
What Is Disability Insurance?
Many call this insurance as the “income protection insurance”. Depending on the type of disability insurance you buy, it will offer you protection against loss of income by providing a monthly pay if you become ill or disabled.
Usually, disability insurance policies pay you 50 to 80 percent of your regular monthly income. So if you earn around $6,000 CAD per month, depending on the policy you buy, in case something happens to you, your policy will still hand out at least $3,000 CAD per month.
The insurance policy that you have will provide you a paycheck per month until you get back on your feet or until the end of your coverage.
You Need It!
With the fact that you live on your paycheck, but what if something goes south? What will you rely on? It will surely by hard for you to digest the loss of income unless you already have huge bank balance. Disability insurance is a must have if your family solely depends on your income. It will be important for you to take care of your family, and it will be really hard for you and your family to survive in case something unexpected happens.
Benefits Of Disability Insurance
To get the best disability insurance policy, choose the Best Insurance Company Calgary Downtown!
1. Percentage Income
Depending on your policy, you could get up to 50 percent and 85 percent of your current income. But remember, most of the benefits that come in disability insurance are only available for a limited amount of time.
2. Cap Benefits
For an example, if you are earning nearly $9,000 per month, your disability insurance policy could provide you benefits of up to $5,000 per month.
3. Duration of Benefits
Depending on what type of insurance you get, your disability insurance policy can cover you until you reach your retirement age.
Where Can You Use The Money That Comes From The Disability Insurance?
The monthly pay you will receive from your insurance policy can help you cover your day-to-day expenses. This includes your debts, medical bills, trainings, and many more. Some policies allows you to use your money to help you regain your physical well-being, this means you are allowed to use the money for rehabilitation.
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