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Posts from the ‘Disability Income Replacement’ Category

25
Jul

Basic Planning for Young Families

As a young family, you will be facing a lot of new challenges that you may or may not be prepared for along the way. Whether it’s children, a mortgage, or unexpected expenses that come up, now is the perfect time to start thinking about all the potential pitfalls that may arise.

In this article we want to share some of the ways that insurance can help you stay ahead of these issues, as well as how to prepare yourself for some of life’s obstacles that you and your family may face.

What Issues Should Concern you the Most?

Now that you’re starting a family, your life is just one piece of the puzzle. Your spouse and any children are also top priorities, meaning that you should consider what could happen to everyone in a variety of scenarios. Here are some crucial questions you and your partner should discuss:

What happens if one of us dies? – While this question may seem a bit morbid, it’s a necessary possibility to plan for, particularly if you are a one-income household. Even with two breadwinners, chances are that your bills and financial responsibilities are too much for one person, meaning that you need to supplement any lost income as a result of one of you passing away. Read more

21
Oct

1 in 3 Canadians Will Become Disabled Before the Age of 65

What You Need to Know About Your Group Long Term Disability

Having a source to replace your earned income in the event of an illness or accident is vital considering that on average 1 in 3 Canadians will become disabled for a period of more than 90 days at least once before the age of 65.  For those that are disabled for more than 90 days the average length of that disability is 2.9 years.

If you are one of the approximately 10 million Canadians covered under a group long term disability plan (LTD) it’s important to understand what your coverage provides. Don’t wait until after you’re disabled to read the employee handbook, because you could have a few surprises!

Read more »

1
Jul

Graduation is the Perfect Time to Consider Disability Insurance

As this year’s graduates cross the stage they’re filled with dreams of their bright futures.   Rightly so – they’ve worked hard to get to where they are.  They’re thinking of their careers, their earning potential and getting started on this business of life.

Now’s also the right time to think about protecting that income earning potential against injury or illness.  This is an excellent time for young professionals to consider disability insurance; here are just some of the reasons why:

  • Rates are low because they’re young and healthy
  • These rates are guaranteed for the duration of the plan on superior plans
  • Some carriers offer discounted rates to new grads.
  • Financial underwriting is a little more flexible since they don’t have a history of earnings.
  • Options are available to increase benefit amounts as their earnings increase.

For a graduate, starting out on a brilliant career, this is just another step in the process of establishing that bright future. If you consider their earning potential, doesn’t it make sense to insure it at the best rate possible?

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