A sudden illness or serious accident can reduce or even terminate your income, without warning. Your everyday expenses will have to cover medication, physiotherapy, nursing care, and other expenditures you hadn't previously given a moment's thought to -- and hadn't budgeted for.

For that reason, disability insurance isn't just about protecting your health; it's also about protecting your income and savings. It provides you with an alternative source of steady income when you need it most.

Disability insurance pays a monthly benefit when you are unable to work. It is available as a short- or long-term benefit.

Disability insurance highlights

  • Benefits can be tax free
  • The benefit period can be anywhere from 2 years to age 65
  • Coverage can be as much as 2/3 of your income