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Posted: 10 Nov '14

Top 3 Benefits of Individual Disability Insurance?

When it comes to insurance coverage most people have the mandatory policies, such as automobile or home and often carry a life insurance policy as well. Individual disability insurance is  yet it may be the very coverage you need most. As many as 20 percent of working-age people will have an injury or illness that lasts longer than 90 day before they retire. That is a significant portion of the population risking their livelihoods if they are not covered. The following are the top three benefits of individual disability insurance.

  1. Financial Stability
    A disability that results in loss of income for more than 90 days can financially devastate most working-class people. Relying on government funds to cover your income in the event of an injury or illness will not provide you enough income to cover your monthly expenses in most cases since qualifying means you must be completely disabled, not temporarily or partially. With appropriate coverage, if you suffer even a partial income loss, your insurance policy will provide a top-up if you are able to work reduced hours or at a lower-paying job.
  2. Focus on Healing
    Knowing your finances are stable will allow you to focus on healing and caring for yourself to get the best outcome for your injury or illness. Stress due to lack of financial resources can be a major hindrance to your recovery and often people are forced to abandon efforts at getting well in order to get back to some form of work.
  3. Lifestyle
    A disabling event is stressful for everyone. With your income secure, you will be able to maintain quality of life for family members and not have to add cutting back on regular activities for the family due to finances. The security and some semblance of normalcy will make a big difference as you and your family learn to adapt.

Vistaplan Financial can help you tailor an individual disability insurance policy that meets your needs and budget. We will ensure you understand the coverage options and we will explain everything you need to know so you feel secure in your decision. We believe you are better to have disability insurance you can afford than to have no coverage at all. Call 780-433-3900 or contact us to learn more.


About the Author - David Motkoski

David Motkoski—At the Helm of Vistaplan Financial Group

The team at Vistaplan is led by David Motkoski, a well-respected insurance adviser to hundreds of business and individual clients. David has 30+ years of experience in this industry helping clients understand their life and disability insurance, office overhead, critical illness, long term care, and accident insurance. David’s focus has been medical doctors, dentists and business owners who are concerned with having the right coverage to provide for their family or business and protecting their income

David is an independent broker offering policies with Manulife, ivari and RBC to name a few. Vistaplan Financial Group has clients dating back to 1983 and they stay loyal with David because of the strong relationships he builds.