Long-Term Disability (LTD) Insurance
Long-term disability (LTD) insurance provides financial support to individuals who are unable to work for an extended period due to illness or injury. It helps replace a portion of lost income, ensuring financial stability while the individual recovers or adjusts to a new lifestyle.
How Do I Get Income Replacement Insurance?
Income Replacement:
Typically covers 60-70% of pre-disability earnings, up to a specified maximum.
Coverage Duration
Benefits may continue until recovery, retirement (age 65), or the end of the policy term.
Waiting Period
A qualifying period (often 90-120 days) before benefits begin.
Own Occupation vs. Any Occupation
Some policies cover individuals who can’t work in their current profession ("own occupation"), while others require the inability to work in any suitable job ("any occupation").
LTD insurance provides crucial financial protection, helping Canadians manage expenses and maintain their quality of life during periods of long-term illness or disability.
Frequently Asked Income Replacement Questions:
Insights Related to Income Replacement Insurance
Discover essential insights and tips about income replacement insurance in our blog posts, designed to help you understand coverage options and make informed decisions.
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