Disability Insurance

Why Disability Insurance Is Important (Advantages)

1. Protects your income — even if you're young and healthy

Accidents, injuries, and illnesses happen unexpectedly. Disability insurance ensures you still receive income so you can pay rent, groceries, bills, and support your lifestyle.

2. Covers both short-term and long-term disabilities

It doesn’t matter if the disability lasts weeks, months, or years — the insurance keeps sending you monthly payments.

3. Keeps your financial plans on track

A disability can destroy savings or force you into debt. Disability insurance allows you to continue saving for retirement, investing, and supporting your family.

4. Peace of mind for you and your loved ones

Knowing your income is protected reduces stress. You don’t have to rely on family or government programs that may not be enough.

5. More reliable than government benefits

Programs like EI sickness or CPP disability have strict rules and may not cover enough. Private disability insurance pays more and is easier to qualify for.

6. Protects your credit and lifestyle

Without income, credit cards, loans, rent, and daily expenses become overwhelming. Disability insurance prevents financial collapse.

7. Affordable premiums — especially when purchased young

Getting coverage in your 20s or early 30s keeps premiums low and locks in your health status.