Disability insurance made easy

I want disability insurance to:

We work with trusted Canadian insurers

Assumption Mutual Life Insurance Company
BMO Life Assurance Company
The Canada Life Assurance Company
The Canada Life Assurance Company
The Empire Life Insurance Company
Equitable Life Insurance Co of Canada
Foresters Life Insurance Company
Humania Assurance Inc.
L'Excellence Life Insurance Company
Industrial - Alliance Life Insurance
ivari
La Capitale
The Manufacturers Life Insurance Company
RBC Life Insurance Company
SSQ Insurance Company Inc.
Wawanesa Life Insurance Company

Safeguard your most valuable asset - your ability to earn

Disability insurance pays out a monthly cash payment to partly replace any lost income, while you are recovering from an illness or injury. This helps minimize the financial and emotional impact of not receiving your paycheck.

What can Disability Insurance be claimed for?

serious_illness

Serious illness

mental_illness

Mental illness

injuries

Serious injury

hospital_stay

Hospitalization

What can you use the proceeds for?

income_replacement

Income replacement

ongoing_expenses

Ongoing expenses

doctor_consultation

Doctor consultation

rehabilitation

Rehabilitation

Do what you do best. We'll get you covered.

Why do I need Disability Insurance?

Disabilities are more common than we think. Read below to dispel some myths about disabilities in Canada.*

Myth

Not that common. Won't happen to me.

FACT

1 in 7 Canadians have a disability. 33% of workers between ages 30-64 will experience a disability greater than 90 days.

Myth

Most disabilities are caused by accidents.

FACT

Most disabilities are due to illnesses. Less than 10% due to accidents.

Myth

Only covers life threatening diseases.

FACT

Mental illness is the #1 cause for disability claims.

Myth

Men are at greater risk.

FACT

% of Canadians with at least one disability:
Women: 24%
Men: 20%

Myth

Disability insurance is expensive.

FACT

It's more affordable than you may think. Coverage can be obtained for 1-3% of annual income.

Myth

I can bear the cost of disability.

FACT

Average 30-year old Canadian has more than $3 million at risk due to disability.

Myth

I have coverage at work.

FACT

Employers typically offer limited coverage, which may be taxable. Coverage ends or becomes expensive on leaving job.

Myth

Public healthcare will cover me.

FACT

Public healthcare does not cover partial or temporary disability.

Myth

I can live off my savings.

FACT

Average length of disability over 90 days is 35 months.

Why do I need Disability Insurance?

Disabilities are more common than we think. Read below to dispel some myths about disabilities in Canada.*

Disabilities are more common than we think


FACT

1 in 7 Canadians have a disability. 33% of workers between ages 30-64 will experience a disability greater than 90 days.


FACT

Most disabilities are due to illnesses. Less than 10% due to accidents.


FACT

Mental illness is the #1 cause for disability claims.


FACT

% of Canadians with at least one disability:
Women: 24%
Men: 20%


FACT

It's more affordable than you may think. Coverage can be obtained for 1-3% of annual income.


FACT

Average 30-year old Canadian has more than $3 million at risk due to disability.


FACT

Employers typically offer limited coverage, which may be taxable. Coverage ends or becomes expensive on leaving job.


FACT

Public healthcare does not cover partial or temporary disability.


FACT

Average length of disability over 90 days is 35 months.

Types of disability insurance

Disability insurance comes in different forms.

short_term

Short Term

Disability Insurance

  • Limited time coverage, usually for 6 to 26 weeks
  • Usually offered through employers
  • Provides weekly income replacement
  • Benefits can begin 1-14 days after disability
  • Typically claimed for temporary health issues such as sports injuries, back problems, infections, etc
long_term

Long Term

Disability Insurance

  • Common coverage terms are 2 years, 5 years, or up to age 65
  • Generally purchased individually, to supplement employer coverage
  • Provides monthly income replacement
  • Benefits begin after short-term disability period is over
  • Typically claimed for mental health issues, muscoskeletal issues, accident etc.

Common questions

Disability insurance offers you protection against a loss of income should you become disabled. It can replace a substantial portion of your paycheque (typically 60-85%) whether the loss of your earning ability was due to a sudden accident or a degenerative illness. This payment is made to you until you resume working or until the end of a pre-determined disability coverage period – whichever of the two comes first.

Learn more about disability insurance in our honest guide.

If you have dependents that rely on your regular income for housing costs, require your paycheque to support your own and your dependents’ living expenses, have limited savings or investments, or have significant financial obligations, you should definitely consider disability insurance to protect your long term financial health, should something compromise your bodily health.

Go to our online disability insurance online tool and answer a few basic questions; you’ll be able to find the best disability insurance quotes and adjust the amount and benefit period based on your needs. Our advisors will be able to help you find the best disability insurance company and product for your needs.

Canada is home to many established life insurance companies that offer best-in-class disability insurance products. At PolicyAdvisor, we work with some of the best disability insurance companies in Canada and have undertaken extensive research to provide you with the best options for disability insurance quotes. Try out our online disability insurance quoting tool to find the best disability insurance quotes for yourself.

The monthly benefit can cover your everyday expenses as well as any long-term debt repayments and medical bills.

Generally the older you are, the more likely you are to suffer a disability, and the premium you pay will be higher. Smoking is also seen as an added level of risk with higher premiums.

Premiums take into account the type of occupation the person has and the perceived level of risk. A high earning professional doing most work inside an office will have a lower premium compared to a manual laborer or skilled tradesman.

If you have become ill or injured and are unable to work and earn an income, you will not be able to obtain disability insurance to cover you for the current situation. However, you may still apply and qualify for disability insurance for future events once you return to work.

What Our Experts Are Saying?

*Sources: Disability stats are sourced from Statistics Canada, RBC insurance, 1985 Commissioners Disability Individual Disability Table A, and Mental Health Commission of Canada.