The Best Disability Insurance in Canada – Updated Feb. 2024


We researched the Best Disability Insurance in Canada so you can pick the best policy for your needs! The top of our list of best disability insurance includes Canada Life, Manulife, RBC, and more! Learn what disability insurance is, which companies offer the best long-term coverage, and why one should choose one company’s coverage over another.


The best disability insurance companies in Canada include Manulife, Canada Life, and RBC.

Crowning the “best” disability insurer depends on your needs, your existing coverage availability, your budget, and the optional benefits available under the plan. This review provides Canadians with an informed checklist of what to look for when choosing their disability illness insurance provider, especially in regard to their long-term options and who does it best. lets you shop around and stringently compare insurance rates to make sure your income is protected!

Head straight to the reviews.

What is disability insurance?
Disability insurance replaces a portion of your income if you’re unable to work due to health issues. It can cover 50 to 100 percent of your pay check and is offered in short (weeks or months) and long terms (months or years).

This ‘benefit’ payment is made to you until you return to good health (i.e. resume working) or until the end of your disability coverage period – whichever comes, earlier.

List of Canada’s best disability insurance companies – February 2024

While in most cases, your group benefits make the cut for short-term disability, but there are better options out there for long-term disability. We work with the best disability insurance providers in Canada and can find a plan that works for you! But, not all companies are the same. Some are great on price and others offer an array of extra benefits. Our expert advisors at PolicyAdvisor have ranked the insurance companies we work with and reviewed their offerings to make sure you get the best disability coverage!

Which are the best disability insurance companies in Canada?

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Canada Life Disability Insurance Review

PolicyAdvisor Rating

Best Disability Insurance For Comprehensive Riders

AM Best Rating A+


Our Canada Life rating:

Do you like build-your-own products? Canada Life gets our top rating for disability insurance. Through the numerous available riders, you can customize your policy so that it’s on par or better than RBC’s offerings, depending on your needs. Additionally, they offer competitive pricing for those with less specialized occupations (like office workers with desk jobs or some minor manual task).

Read the full review of Canada Life term life insurance and other products.

Canada Life disability insurance pros and cons

Pros Cons
Own occupation available for 3A and 4A category job class Slightly more expensive for professional job categories (4A)
Multiple rider options are available (including Accidental Death & Dismemberment and catch up rider option) Limited future income option amount and COLA rider benefit amount
Discounts for healthcare workers

Desjardins Disability Insurance Review

You know the saying “you get what you pay for”? This is the case with Desjardins. It’s cheap off the hop and has some unique built-in features, but in the long run, it may not be the most comprehensive coverage compared to other offers on the market. You pay a low premium for coverage, but what you’ll actually get for your benefit payment is determined at the time of your claim.

Read the full review of Desjardins term life insurance and other products.

PolicyAdvisor Rating

Best Disability Insurance For Top Up Coverage

AM Best Rating N/A


Desjardins disability insurance pros and cons

Pros Cons
The initial premium is lower than the market share Many limitations and exclusions in contract compared to other insurance companies
No waiting period built-in to policy pricing Offers a guaranteed renewable product, meaning premiums may change over time
Death benefit related to disability payout 5x monthly amount built into policy pricing Coordination of benefits clause after 36 months or over $1200 may decrease your payout from Desjardins
Guarantees the first $1,200 for the first 36 months to be non-integrated/coordinated

Edge Benefits Disability Illness Insurance Review

While not the most comprehensive coverage, Edge Benefits gets the edge for simplified underwriting—they can skip a few of your personal details in the application process in exchange for the “extras” that other companies provide.

Read the full review of Edge Benefits life insurance and other products. 

PolicyAdvisor Rating

Best Disability Insurance For Simplified Underwriting

AM Best Rating N/A


Edge Benefits disability insurance pros and cons

Pros Cons
Can purchase their product as short term disability due to 0-day waiting period option Coverage may be denied for illness history (but injury coverage is guaranteed)
Accident medical treatment benefit ($10,000) Coverage limited to $5000 for 2A and 3A, $6000 for 4A
Simple underwriting process No options for comprehensive coverage
Coverage up to age 70

Humania Disability Insurance Insurance Review

When we think of benefits packages, it’s usually reserved for those who have full-time, 9-5, working-for-the-man-in-a-suit-and-tie kind of job. With Humania, they’re defying that expectation. They offer coverage, albeit minimal, for seasonal, part-time, self-employed, and other income earners. But we like them best because they offer the best no-medical plans for those who don’t fit the traditional underwriting guidelines of disability insurance.

Read the full review of Humania term life Insurance and other products.

PolicyAdvisor Rating

Best Disability Insurance For No-Medical Plans

AM Best Rating N/A


Humania disability insurance pros and cons

Pros Cons
Guaranteed products with no medical options Guaranteed products only offer Term 10 or 20 plan only (no options up to 65)
Options to combine with life insurance and critical illness coverage for guaranteed products Benefits capped at $6000 per month
While limited (capped at $1000) there is coverage for seasonal and part-time workers which is not offered by other insurance companies Guaranteed premium for the first 5 years only

Manulife Disability Insurance Review

Imagine: you’ve been in an accident. You can’t work until you heal and even if you do, you may need continual care and won’t be able to work your job. With options to convert their disability products to long-term care, Manulife has your back. They offer coverage tailored for professionals, executives, new student grads and have add-on options to cover you when you can’t work in your specialized field, but all the extras will cost you.

Read the full review of Manulife term life insurance and other products. 

PolicyAdvisor Rating

Best Disability Insurance for Long-Term Care

AM Best Rating A+


Manulife disability insurance pros and cons

Pros Cons
Discounts for recent grads for a variety of studies Expensive compared to other products on the market
Premium refund rider available (every 8 years if you make few or no claims) Usually long application processing times
Future income option (FIO) riders are available

RBC Disability Insurance Insurance Review

As Canada’s biggest bank, RBC is the big dog with the best coverage. They offer a variety of packages depending on the applicant’s occupation including those who run small businesses, who are self-employed, farmers, and those operating under a fee-per-service business. When we talk about disability, we’ll likely name RBC first because they have our top rating. 

Read the full review of RBC term life insurance and other products. 

PolicyAdvisor Rating

Best Disability Insurance For Professionals

AM Best Rating A


RBC disability insurance pros and cons

Pros Cons
Offers a bundle of basic disability insurance riders at base price Own occupation rider only available to limited occupations
Superior benefit amount for cost of living (COLA) benefit rider Can be more expensive for lower occupation classes
Future income option (FIO) rider has high benefit limits Does not have premium refund rider
Family compassionate care

Methodology: How did we rank disability insurance companies?

Our disability insurance company rankings were the result of in-depth research into key factors like:

  • Term lengths (short term offerings versus long term offerings)
  • Waiting periods
  • Premium rates
  • Application process
  • Online access
  • Financial strength rating
  • And more

Our team of licensed insurance advisors worked together to carefully assess the different policies available in Canada. Using this, we narrowed down a list of which disability insurance company is best in which area.

Things to look out for when applying for disability insurance

Beyond the price, there are technical aspects of a disability insurance policy that you should look out for when selecting your policy. When you’re weighing your options, you should look at the following factors.

1 The policy's definition of ``disability``

Disability insurance providers classify disability in three categories: own, regular, and any.

  • Own occupation says you will get paid out if you can’t work your specific or specialized occupation (like a lawyer or surgeon).
  • Regular occupation says you will get paid out if you can’t work in any jobs in a similar status/field as your current job, however, if you choose to work in another occupation you will lose your benefits.
  • Any occupation is the most stringent. It says that if you can work any job, you won’t get benefits. For example, if your disability prevents you from working in the warehouse, but you still have the ability to work as a grocery store greeter, you won’t get coverage. Policies with “any” occupation will be cheap in premium, but won’t provide you much coverage.

2 The waiting period

Each policy will determine a waiting period before you will receive your benefits. The longer the waiting period, the cheaper the policy, because usually injuries and illnesses can resolve themselves during that period. However, you will have to cover all your expenses during that waiting period—rendering the policy useless if you recover within the waiting period time.

3 The amount of coverage

While most employer benefits come with short-term disability insurance that covers most of your income (usually 70-100% of your income), you may be shocked to find that the offered long-term coverage only covers 50-70%. If you can afford to supplement that 50-70% of your income for the long term with your savings accounts, no worries. But the reality is, most cannot. You may consider an individual policy with one of the providers mentioned above that may be able to offer a higher portion of your income coverage long term.
Still looking for the best disability insurance rates?
PolicyAdvisor saves you time and money when comparing Canada’s top disability insurance companies. Check it out!

How to apply for disability insurance

To get a quote and the application process started for a disability insurance policy that’s perfect for your needs, set up a call with one of our expert advisors today! We can go over your existing short-term policy and find you great individual long-term disability coverage!

By Jiten Puri
CEO & Founder, Insurance Advisor, LLQP
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