Protecting your biggest asset
What is your biggest asset? Most people would say it is their house. In reality, it’s your ability to work. For example, a 35-year-old male earning an annual salary of $50,000 can expect to earn over $2 million until age 65 (assuming a 2.5% annual increase in earnings).
Disability Insurance is paycheque insurance. If you cannot earn an income, everything you work so hard for could be at risk. Disability Insurance provides employees and business owners with an income as long as they can’t work for due to any injury or illness.
A lot of people have coverage at work. However, there are important questions to ask when evaluating whether or not your plan at work is sufficient, or if there would be a need to top it up privately.
How long do I have to wait until I start receiving benefits?
A typical waiting period for group long term disability is 120 days. We will review this with you to confirm how long it takes your group disability to kick in.
How much will I receive?
In a lot of cases, group disability plans may only cover half of your income. How would a 50% decrease in pay impact your lifestyle?
What is the definition of total disability?
Most group insurance plans have a regular occupation definition for the first two years and an “any occupation” definition thereafter. This means that after two years, you will be forced to return to work if you can perform any job, despite not being able to perform the essential duties of your job.
What is critical illness insurance?
Critical Illness Insurance is lifestyle protection. It pays out a lump sum benefit upon the diagnoses of a significant medical condition covered on the policy. The three most claimed conditions are cancer, heart attack and stroke. How many people do you know that have been diagnosed with cancer, had a heart attack or a stroke? Most Canadians assume that the government will cover all their costs associated with dealing with such a serious health concern, but in a lot of cases they are left to pay out of their own pocket for a lot of these costs. These costs can include travel to and from treatment, home care and drugs not covered by our government.
It was actually a doctor who invented critical illness, after he treated a patient who had lung cancer. After the patient passed away, her life insurance paid out a lump sum of money to her beneficiaries. The doctor thought; wouldn’t it have been better if she was paid out before? He realised the huge financial burden having a major illness had on individuals and their families. He spoke to an insurance company about the idea of a new type of insurance, and in 1983 critical illness insurance was born.
Critical Illness, like life insurance, is available in term and permanent coverage. You can be covered for up to $2 million and can get your premiums back if you never make a claim.
Critical Illness plans also give you access to “best doctors”, which is a global network of the best doctors in specific medical fields. This allows you to make sure you are receiving the best medical care and advice available to you. The beauty of this feature is that you don’t need to make a claim to use this service. By owning a policy, you can access it for any medical concern you may have.
Please contact us for more information!
If you don’t have coverage at work, or just want to top up your coverage, we can help. We offer a wide range of prescription drug, dental and paramedical insurance plans. About 1 in 3 Canadians have gone without needed health care because of insufficient coverage. Also a large number of retirees are left without coverage as 62 percent of employers do not provide coverage for retirees. With out of pocket medical expenses on the rise, it becomes sensible to give yourself the right coverage to cover these costs.
Call 647-980-8517 today for your free consultation!
Personal Health Insurance
About Us
Secure Insure is an independently owned Life and Health Insurance Brokerage based out of Thornhill.
We specialize in providing coverage to young families and small business owners. Secure Insure provides life, disability and critical illness insurance solutions. We also sell employee benefit plans, as well as personal health insurance.
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647-980-8517
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