Disability Insurance Quote Forms
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Disability Insurance Information
Moose Jaw SK Disability, Health, Dental,& Critical Illness Insurance
Also serving Regina and surrounding areas in Saskatchewan
Disability Insurance covers an individual if they become injured or sick and cannot perform the substantial duties of their occupation. It covers an individual 24 hours a day 7 days a week regardless of when or how they became injured or sick. It provides a monthly benefit to replace lost income from not being able to work. It has the following benefits and features.
- Waiting periods of starting at day one to 731 days
- Benefit periods of 24, 60 & 120 months (and to age 65)
- Return of premium options should you not get injured or sick
- Protection on future earnings
- New graduate program discounts
- Partial Disability protection
Why Do I Need Disability Coverage?
What happens if you become injured or sick and cannot perform your substantial work duties? Where would your monthly cashflow come from? A disability plan works for you when you cannot. Many employee benefit plans have some type of disability plan in plan however it may only be long term and will not pay early in the plan. It may also not be enough to replace all your lost income that you have based you budget on. By obtaining an individual plan you regain control to ensure you are fully protected.
What Does Disability Insurance Cover?
Disability insurance policies can provide critical financial assistance in response to many different issues or expenses, such as:
- Pregnancy and childbirth, including complications
How Much Disability Insurance Do I Need?
In most cases, disability insurance policies can be relied upon to replace somewhere between 40 and 80% of your income. The amount of coverage you will need may depend on several factors, including:
- Current expenses—If you hope to maintain your current lifestyle, you will need to secure adequate coverage. Calculate your monthly expenses and acquire coverage capable of paying for them if a disability makes it necessary.
- Spending changes—It’s possible that your spending habits and regular expenses could change if a disability forces you to stop working. For example, you may be able to cut down on commuting costs, meals and clothes, and your taxes may also be lower.
- Alternative income—Consider savings that you may have been accruing or other assets, such as rental properties. If you are able to supplement disability benefits with other income sources, you may not require as much coverage.
- Household arrangements—If you must stay home while disabled, it may make it possible for someone else in your family to work longer hours while you take care of chores and other duties they usually handle.
Critical Illness Insurance
What happens to a household’s finances when a member gets diagnosed with a critical illness? Individuals require financial independence more than ever when an occurrence like this occurs. With modern medicine individuals have a better chance of surviving but survive with consequence usually having a negative impact on a household’s finances.
Critical Illness coverage is protection that provides an individual with a tax free lump sum benefit 31 days after the diagnosis of a covered illness such as cancer, heart attack and stroke. There are also another 20 some additional illnesses covered.
It also has built in counseling services for individuals who need someone to talk to as well as it has access to “Best Doctors” works with you and your physician is coming up with an accurate diagnosis and treatment plan going forward.
This type of coverage wasn’t invented by an insurance company. It was invented by a heart surgeon. Dr. Marius Bernard. He saw the financial duress people experienced when becoming diagnose with an illness.
Why Do I need Critical Illness Coverage?
Recovering from a critical illness can come at a significant cost. If it were to happen to you or a loved one how would you pay for it? Let’s say you get diagnosed with cancer. Your doctor says that your chances for survival are good but it is going to be a long road to recovery. You will have to travel to get your chemo and radiation. Who will drive you? Your spouse usually would but he has to work. That’s ok he’ll take some time off but that will only hurt your household income as he won’t be making an income. You have savings but they may not be enough as this road to recovery could last many months. You could access retirement funds but not only will that be taxable but it will jeopardize your retirement. Let’s face it things don’t stop because you become ill. More now than ever people are becoming diagnosed with these illnesses and are surviving so if they have depleted their savings and retirement now what? Be proactive and design an affordable plan now so that you can focus on your recovery and not be worried about finances.
There are low cost plans such as term plans as well as longer term plans which offer return of premium options should you not become ill. There are also children’s term plans available should you wish to protect all your family members.
Health and Dental Insurance
If you don’t have benefits at work or you are not working or retired you can look to an individual health and dental plan to give you access to coverage for prescription drugs, dental, hospital, vision, paramedical, ambulance etc.
Coverage can be for individuals, couples and family. Coverage is flexible and comes in guaranteed approval as well.
Other Life, Health & Wealth Management Coverage Options