Disability insurance


Disability insurance is a useful protection, which will save you many troubles. But this is often misunderstood by consumers. You might ask “Why do I need a wage / disability insurance. ”

Here are some reasons:

  • You do not have group insurance
  • You are self-employed
  • You move in the field of business

The disability insurance allows you to meet your financial obligations in the event that you could not work due to an accident or illness.

An entire loss of your salary for a longer or shorter period can be catastrophic for your financial stability. Sure, you may have at your disposal an emergency fund, which will help you avoid financial hollow in the case of a short-term disability. But it may be quickly depleted.



Do the calculation of income (salary) you will generate by your retirement. Seeing the result, you will understand the need to be protected against a potential disability with a salary insurance.

Here is an example :

Jean is 36 years old and has an annual income of $ 43,000.It provides for retirement at age 65.

65 – 36 = 29 years active in the labor market

29 X $ 43,000 = $ 1,247,000 of revenue generated

According to Desjardins Life Insurance-Health Retirement: one in three Canadians will be affected by a disability in his lifetime. In addition, the average length of a disability period is 2.6 years.*

It is unlikely that your emergency fund, if you have one, allow you to keep the same quality of life and to adequately compensate the wage shortage suffered by you in case of disability. Salary insurance ensures peace of mind thanks to the many advantages and features, such as:

  • you receive a non-taxable monthly benefit in case of disability
  • the amount of the pension is a percentage of your normal pay
  • you can have the cash however you like
  • this annuity can be combined with life insurance, health insurance or be bought only

Look at some one of our financial security advisors regarding the various salary insurance policies / disability. They will help you find the one most suited to your needs!