Protecting Your Income When You Can’t Work
Your ability to earn an income is one of your most valuable assets. A disability—whether caused by an injury, illness, or long-term condition—can quickly disrupt that income and impact every part of your life. Disability Insurance helps protect your financial foundation so you can focus on recovery, not financial stress.
As an independent financial advisory firm serving Quebec and Ontario, we help individuals, families, and business owners understand their disability insurance options and compare solutions from major Canadian insurers such as Sun Life, Canada Life, Manulife, iA Financial, Desjardins, and others. Our guidance follows AMF and FSRA regulations and is always tailored to your situation.
What Is Disability Insurance?
Disability Insurance replaces a portion of your income if you become unable to work due to sickness or injury.
This includes conditions such as:
• Back injuries
• Mental health disorders
• Cancer
• Heart conditions
• Chronic pain
• Accidents or trauma
• Any illness that prevents you from performing your regular job duties
The benefit is paid monthly, similar to a paycheque, for the length of your disability or for the duration of your contract.
Why Canadians Need Disability Insurance
A disability can happen unexpectedly and affect long-term earning potential. Even with government and employer programs, there may still be gaps.
Here’s what many people do not realize:
• CPP Disability and QPP Disability have strict definitions and are often difficult to qualify for.
• Employer group plans may not offer enough coverage—or may not follow you if you change jobs.
• Savings may not last long during extended recovery periods.
• Many illnesses and injuries take months or years to fully heal.
Disability Insurance ensures income continues even when work is not possible.
How Disability Insurance Helps
Monthly benefits can be used to cover:
• Rent or mortgage payments
• Groceries and household expenses
• Loan or credit card payments
• Childcare or family responsibilities
• Medical treatments not covered by public plans
• Business operations for self-employed individuals
The goal is financial stability, allowing you to concentrate on getting better.
Types of Disability Coverage Offered by Canadian Insurers
Insurers such as Sun Life, Canada Life, Manulife, iA Financial Group, and Desjardins provide a wide range of disability solutions.
1. Long-Term Disability (LTD) Insurance
Provides income replacement for disabilities lasting several months or years—sometimes up to age 65.
2. Short-Term Disability (STD) Insurance
Covers the early period of a disability, usually the first 3–6 months.
3. Individual Disability Insurance
Designed for employees, professionals, and self-employed individuals who need coverage tailored to their income.
4. Business Overhead Expense (BOE) Insurance
Helps business owners cover fixed expenses—rent, utilities, salaries—if they can’t work.
5. Riders and Enhancements
Depending on the insurer, you may add:
• Cost-of-living adjustments
• Future income increase options
• Partial disability benefits
• Return-to-work support
Because we are independent, we compare policies across providers to ensure you get the right combination of price, features, and contract definitions.
Key Definitions to Understand
Different policies define disability in different ways. The definition matters because it affects how easily and how quickly benefits are paid.
Own-Occupation Definition
You are considered disabled if you cannot perform the duties of your regular job—even if you can work in another role.
Any-Occupation Definition
You are considered disabled only if you cannot work in any reasonable job based on your education and experience.
Many high-quality policies include own-occupation protection, giving stronger financial security.
How Much Coverage Should You Have?
Most people aim to replace 60% to 85% of their income, depending on the policy type.
Factors that affect your required amount:
• Income level
• Monthly expenses
• Family responsibilities
• Existing group benefits
• Emergency savings
• Self-employment vs salaried employee
We review all of these elements and calculate the level of protection that fits your situation.
Who Should Consider Disability Insurance?
Everyone who relies on their income should consider coverage, especially:
• Employees without strong group benefits
• Self-employed professionals
• Contractors and freelancers
• Business owners
• Anyone with dependents
• Homeowners with mortgages
• High-income earners who need strong financial protection
Medical and Eligibility Requirements
Most disability policies include:
• A health questionnaire
• Possible nurse visit or medical tests for higher benefit amounts
• Verification of income or business revenue
Simplified options are available depending on age, health, and coverage amount.
Why Work With an Independent Advisory Firm
Because we are not tied to any single insurer, we:
• Compare multiple companies
• Review contract definitions
• Analyze pricing and benefits
• Ensure compliance with AMF (Quebec) and FSRA (Ontario)
• Tailor solutions for employees, families, and business owners
Our goal is to help you choose strong, reliable protection—not just the cheapest premium.
Secure Your Income With the Right Protection
A disability can happen suddenly, but financial stress doesn’t have to follow.
Disability Insurance replaces your income when you can’t work, giving you the stability you need to recover at your own pace.
Whether you’re exploring personal coverage, business protection, or supplementing an employer plan, the next step is a personalized review.
Book a consultation with us to compare disability insurance options and build a protection plan that fits your life.
