What Is Comprehensive Income Replacement Insurance?
- June 1, 2021
- Posted by: olinsadmin
- Categories: Critical Illness, Disability Insurance, Health Care Ontario, Life Insurance Ontario, Retirement
For most of us, our income it’s what makes us to be able to maintain our lifestyle.
Probably, our ability to earn a living is our most valuable asset that might worth much more than the value of everything you own, including your house, cottage and investments combined.
In these uncertain times when thousands of Canadians lost their jobs, we understand the vital importance of our income. There are three questions pop up in our mind:
- But what would happen if you became ill or suffered an accident (haven forbids) and were completely unable to work?
- Would you have enough savings to be able to keep paying your bills? If so, for how long?
- Do you have disability income insurance through your work? If so, would it cover all your needs?
Moreover, in the event of a disability, not only would you lose your primary source of income, you may also incur additional costs related to your health.
Look at these quick facts summarized by iA Financial Group:
- More than 1 in 2 Canadians continue to live paycheque to paycheque
- 1 in 3 people, on average, will be disabled for 90 days or more at least once before they reach age 65
- 1 in 7 Canadians are disabled at any given time
But a work leave shouldn’t alter your plans – Superior Comprehensive Income Replacement Insurance is there for you:
- Income insurance for all workers that allows you to cover your income up to $10,000 per month in non-taxable benefits!
- Coverage in case of accident or illness, whether at work, at home or while playing sports.
Comprehensive Income Replacement Insurance
- Comprehensive: A disability insurance that replaces your paycheque when you are sick or injured.
- Reassuring: Your life plans won’t be altered by any unforeseen events. Money will keep coming in, even if you can’t work.
- Customized: A wide range of coverages adapted to your needs and budget
And there is more!
- A premium holiday for your disability period.
- Immediate benefit payments in case of hospitalization and day surgery.
- Non-taxable disability benefits.
- Overhead expense insurance to cover your business expenses.
- A vocational rehabilitation program to help you regain your ability to work.
- A free over-the-phone advice service from legal and medical experts.
- Automatic increase in benefits without medicals to insure your benefit grows as your income grows.
If you are considering this Comprehensive Income Replacement Insurance, I can help you customize your coverage for your needs.