DISABILITY INSURANCE  

DISABILITY YOUR BIGGEST FINANCIAL RISK

The chances that you'll suffer a disability before retirement are three to one.

Here are the statistics:

• There are 3.3 million disabled Canadians.

• 1.8 million of the disabled are between the ages of 14 and 64.

• Their disability interferes with the kind and amount of work they're able to do.

• A third of all people now aged 35 and older will be unable to work for at least six months before reaching age 65 due to an illness or injury.

• It is estimated that half of all foreclosures in Canada are due to disability.

• There are three main types of disability insurance policies designed to insure different personal and corporate needs.

Types of Disability Insurance:

1. 1. Personal Disability Insurance

   2. Disability Buy Sell Insurance

   3. Business Overhead Insurance 

The need for disability insurance is obvious, unfortunately many business owners and the self-employed are uninsured. Business owners and the self-employed cannot afford not having disability insurance. Even a 40 year old with a modest income of $40,000 per year will earn will earn $1,080,000 over their working years, this does not take into account earnings increases due to inflation. Unless you have a printing press to replace your income you need insurance.

Disability insurance is a highly specialized field that requires guidance and advice of a knowledgeable insurance broker. There are only a few companies offering individual disability insurance in Canada. Shopping for disability insurance will not result in savings due to lack of competition.

The premiums for disability insurance can be high. One of the methods of lowering your premium is to adjust the waiting period of the policy.

Disability insurance is a complex product, let Stone-Hedge Financial Group Inc. customize a disability insurance policy to suite your needs and budget.

Contact Us for a Disability Insurance Quote

The information provided on this web site is intended for general information only. It should not be construed as legal, accounting, tax or specific insurance and investment advice. Clients should consult a professional advisor concerning their situations and any specific insurance and investment matters. While reasonable steps have been taken to ensure that this information was accurate as of the date hereof, Stone-Hedge Financial Group Inc. and its affiliates make no representation or warranty as to the accuracy of this information and assume no responsibility for reliance upon it.