Disability Insurance – Insure Your Greatest Asset – Your Ability to Earn an Income
What do you consider your most valuable asset? Your home? Your investments? Isn’t it your income— your earning potential? Disability insurance from an experienced insurance broker can protect everything that is valuable to you—your family, your peace of mind, and your lifestyle from loss of income due to illness or injury.
Disability Income Insurance – We will Design a Plan that Works For You
We can help you customize a disability income insurance plan that fits your lifestyle and your budget. For instance, partial disability benefits can be based on a loss of income or a loss of time and duties. It’s your choice. For disability insurance that works for you—if you can’t, contact us now.
Speak with one of our disability insurance specialists today for more details and a complementary consultation.
Short Term Disability Insurance
At HDF, short term disability insurance is available only within a comprehensive group benefits plan. Since premiums for this specialty product can be fairly expensive, short term disability insurance is typically suited for key employees of large companies who are extended this coverage in their group plan.
Short term disability insurance plays an important role in personal and professional income protection. To find out if it’s right for your company or key employees, contact us today.
Short Term Disability Claims
Short term disability claims basically take the form of sick leave. Wage replacement benefits are payable on the first day of an accident or the 18th day of hospitalization. This waiting period is much shorter than that of long term disability insurance, which can be 30 days to 2 years. Short term disability benefits are also paid over a shorter time frame, typically 90 days, after which time long term disability insurance should apply.
Long Term Disability Insurance
While many assume that injuries are the primary cause of long absences from work, in Alberta and British Columbia, approximately 80% of long term disability claims are submitted on the basis of unexpected illness. If you are self-employed or not covered under a group benefits plan, protect yourself and your family with long term disability insurance.
Long term disability insurance plans define “disability” or “unable to work” in different ways.
Long Term Disability Policies
Our experienced insurance specialists can help ensure your plan provides the coverage you need. Here are a few other things you should know about long term disability policies:
- Coverage usually carries a waiting period of 30 days to 2 years depending on how it’s defined upon purchase; 90 days is most common
- The longer the waiting period, the less expensive the rates
- Premiums vary with occupational class – we can provide you a free quote based on your job classification; contact us now
Long Term Disability Benefits – Wage Replacement
Long term disability benefits are paid monthly, as wage replacement, when you are unable to work. This peace of mind alone can make a huge difference in recovery. Contact us today to get the protection you need and deserve.
Professional’s Disability Insurance – Specialized Coverage
Not all insurance companies offer professional’s disability insurance. With over 30 years of experience, however, we recognized the need to offer a premium service and product to our most successful clients. Our professional’s disability insurance plans are designed to address your current and future needs with comprehensive coverage and many add-ons.
Professional disability insurance from HDF Insurance will help you support your business and lifestyle, should you need it.
Disability Benefits – Look at it from the Right Perspective
Disability insurance is especially important for individuals who are self-employed. Have you considered disability insurance, but decided against it because of cost? Put the value of disability benefits into perspective by comparing your income protection to other assets you insure. Using the example of a 35 year old homeowner in Calgary, Alberta making $5,000 per month…
Common Disability Insurance Questions
Finding the right disability insurance coverage can leave you with a lot of questions. Here are some common questions to help you understand disability insurance better.
Q: Will my policy cover me if I am disabled for any reason?
A: No, there are certain criteria to meet in order to be deemed disabled. Not every situation is covered.
Q: Why was the cost for my disability coverage under my employee benefits plan so much cheaper than getting my own policy?
A: Any coverage under an employee benefits plan contains many restrictions and limitations that you are probably not aware of. These policy limitations are kept in a contract held by your employer.
Q: I have worker’s compensation. Why would I need my own disability insurance policy?
A: Worker’s compensation does not guarantee to pay you a regular monthly benefit. Plus, illness and accidents away from work are not covered under worker’s compensation.