You might think that you don’t need disability insurance because OHIP can help with the medical bills. Yes, it can! But OHIP cannot replace your lost income if you are unable to work for a few months. To protect your income and your lifestyle, you need disability insurance.

Disability definition

You are considered disabled if due directly to injury (if your insurance covers injury only) or injury or sickness (if your insurance covers sickness also) you are:

• unable to perform the essential duties of your regular occupation (even with any reasonable assistance or modification of job duties)
• not working in any gainful occupation (gainful occupation refers to an employment situation where the employee receives steady work and payment from the employer that allows for self-sufficiency)
• under the regular care of a physician and receiving appropriate treatment

Disability insurance highlights

 Affordable: Premiums start as low as $10.50 per month for injury-only coverage.

• Tax-free monthly benefit: Choose $500, $1,000 or $1,500 (75% of your gross monthly income is the maximum).
• Easy to apply: You may be able to apply online in as little as 15 minutes.

• Total disability benefits: Receive a monthly benefit for up to two years if a covered illness or injury completely prevents you from working.
• Guaranteed renewable: We cannot cancel the policy without your consent, up until you turn age 65.
• Waiver of premium during disability: Your premiums will be waived if you are disabled and being paid monthly benefits.
• Portable: You can keep your policy if you change jobs.
• 30-Day review period: If you change your mind during this time, we will give you a full refund and cancel your policy.

Maximum period of disability coverage

Two years is the maximum period of time that you can receive monthly benefits for any one period of disability due directly to injury or injury or sickness.

Who disability insurance is designed for

Many disability insurance plans are straightforward, affordable and easy to purchase. They can help protect your income if you become injured or ill. They are ideal for you if you:

• are self-employed, a contractor or a part-time worker
• want coverage for injury only, or both sickness and injury
• are concerned about qualifying for traditional coverage
• don’t have group coverage

No medical exam disability insurance

If you are concerned about qualifying for traditional disability coverage, then you can buy no medical exams disability insurance plan. You’ll have to answer just a few basic questions to apply. You can receive injury-only coverage if you are not qualify for sickness coverage

Who is eligible to apply for disability insurance

You are eligible to apply for disability insurance if you are:

• between ages 18-55
• Canadian citizens or permanent residents/landed immigrants
• working a minimum of 30 hours per week

What if you have disability insurance at work?

Examine your employer-sponsored disability policy carefully and know what it covers. Here are some things to look at for your employer-sponsored plan:

• How much of your income will your employer-sponsored disability plan replace? Will you be caught short?
• Are you covered for illness as well as injury?
• Are you only covered for accidents on the job, or are you protected 24/7?
• Does your plan provide valuable return to work services?
• How does your plan define a disability?

Once you know the answers to these questions, you may find that you need additional coverage. Usually, you insurance plan will end when your employment ends. One of the advantages of a private disability insurance policy is that you can take it with you if you leave your job.