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Personal Solutions

Disability Income

Disability Income

One of your most valuable assets is your ability to earn an income.

If you or your spouse experienced a serious illness or injury, how would the loss of income impact you and your family? In addition to your day-to-day living costs a disabling injury can also lead to unexpected expenses like increased medical and household costs. To protect against financial hardship, anyone who earns money, whether single or married, with or without children, should consider a personal Disability Income Insurance policy.

Disability Income Insurance Guide


Some policies pay benefits if you are unable to perform the duties of your regular occupation, while others will not pay benefits if you are fit to perform any occupation. Some policies also pay benefits if you become ill or injured and are unable to earn a specified percentage of your income. Understanding how a disability is defined will help you to select a policy that best suits your needs.

Amount of Income

This amount varies by policy, but a policy that pays 50 to 60 per cent of your monthly salary (not including bonuses or commission) is the most common and most affordable option. It’s best to first evaluate your other sources of income to determine the amount of disability income coverage that you will need.

Length of Benefit Period

You can choose to receive benefits that are payable from one year, two years, five years or to retirement age. Opting for coverage that lasts through age 65 affords the best protection against an injury or illness that permanently removes you from the workforce.

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