Alberta Life, Disability, and Health Insurance Since 1983

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Edmonton, AB T6H 4R7

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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 Motkosk At the Helm of Vistaplan Financial Group

David is a well-respected insurance advisor with over 30 years of experience helping healthcare professionals, business owners, and their families secure their financial futures. He takes the time to make certain his clients understand the life, disability, and health insurance products they are purchasing, so they can make the right choices for their budgets, plans, and futures. CONNECT WITH ME ON LINKEDIN

Life & Disability Insurance for Alberta Health Care Professionals, Business Owners, and Their Families Since 1983