Disability Insurance

Your most valuable asset is your ability work and earn an income.  During your working career, there are often ongoing financial and family commitments.  If you become disabled, your ability to earn enough income to pay your bills and save for retirement may be compromised.  An individually owned disability insurance policy will replace your earned income that is lost when an illness or accident causes a prolonged disability.  A wide range of different disability plans are available today, and can be custom-designed to meet a variety of protection needs.

Even if your employer offers short and/or long term disability insurance as part of your employee benefits package, these group programs often have contract limitations that may result in insufficient coverage for your particular needs.  In those circumstances, we will look at supplementing your group plan with an individually owned policy. 

Businesses may also suffer a loss due to the long-term disability of a key employee.  As such, there are three main types of business disability plans:

• Overhead Expense Plan: Pays for fixed business overhead expenses that remain the responsibility of a business owner even while they are disabled.
• Buy/Sell Plan: Provides funds to help enable one or more business owners to purchase shares of a disabled shareholder or partner in the event of a total disability.
• Key Person Plan: Provides funds to compensate an employer for financial loss due to the disability of a key employee.