What are the benefits of choosing disability insurance?

What are the benefits of choosing disability insurance?

What are the benefits of choosing disability insurance?

The name explains for itself, with a disability insurance policy, you ensure that you still get a paycheque even when you are not able to go to the office for a short or long term for any type of disability. In short, it covers your paycheque and keeps the money coming for your expenses when you are not working, which leads it’s another important benefit which is, it protects your family from any type of financial disaster during this period.

That is how disability insurance works. You can claim for a short period or for a longer time, but once the claim is processed you can rest easy on the financial aspects of your life and focus more on recovery. You should know, that a short-term disability insurance claim can recover almost 80% of your paycheque whilst a long-term claim can recover up to 60%. You can find more details, by getting in touch with Harpreet Puri. She will be glad to assist you.

Tax-free coverage

You read it right, the claim amount that comes from the disability insurance is completely tax-free, meaning, that you don’t have to mention it in your tax filings. You will be receiving a monthly benefit from your policy, which will not only be your income replacement but also cover:

  • Your daily living expenses
  • Rehabilitation fee
  • Doctor’s consolations

Depending on the plan that you would opt for, that non-monetary may also include tax planning and job training. Harpreet can create a tailored plan for you as per your requirements. All you have to do is submit the necessary documents, she can take care of the rest. Schedule an appointment with her today, you won’t regret it.

Should I apply for disability insurance?

You would be surprised to know, 1 in 7 Canadians have been noted down of having some type of disability and around 33% of the workers aged between 30-64 suffer from disability for greater than 90 days. Also, less than 10% of the claims are due to work-related accidents and illness. Would you still like to take your chances?

If you have a mortgage to pay for, the only person who’s financially supporting your family, or have limited access to savings and investments, it’s better not to take that risk. It only costs you 1-3% of your annual gross income, even less if your age is less than 30 and working in a desk job. The premiums of the plans are also affordable (if you increase your waiting period it will become even less). You can customize a plan as per your requirement. So, don’t wait for it anymore, contact Harpreet Puri and apply for Disability insurance. Protect your family’s future today!