Insuring your greatest asset
Your ability to earn an income is your greatest asset, yet many Canadians choose not to protect it. Disability Insurance provides you with a percentage of your monthly income while you are unable to work due to an injury or an illness.
When designing a plan, your income level will determine the maximum amount of monthly coverage available. You have the ability to design the plan by selecting an appropriate benefit amount, start date, benefit period, as well as important optional benefits that can enhance your coverage
How much coverage do you need?
As a business owner, individual Disability insurance premiums may qualify as a tax-deductible business expense. With two or more eligible applicants, a Wage Loss Replacement Plan can be established. Premiums payable under a Wage Loss Replacement Plan are tax-deductible when set up properly based on current Canada Revenue Agency guidelines.
In addition to income replacement benefits, Disability insurance can also be structured to facilitate a partnership buy-sell arrangement or to protect the business from the loss of a key person.
Speak with an advisor today to evaluate your disability insurance needs.