| About Us | Family Wealth Optimization | Family Business Advising | Testimonials | Resources | Contact Us |
Disability Insurance
Disability is often a risk overlooked. However, there is a one in three chance of becoming disabled for more than 90 days, before the age of 65.
One of the main assets of an individual is often their ability to earn an income from their labour. This is often particularly true during the early and middle stages of one's working life, before the accummulation of significant assets. Disability insurance is a tool to protect your earning power and to pay you the income lost as a result of your debilitating injury.
The benefit is based on one's actual or presumed lost income, and is often calculated as a percentage of income, typically not more than 85% of take-home pay. It is payable after a disability has continued for a predetermined amount of time (called the elimination period).
Benefits continue to be paid as long as the insured meets the definition of disability in their policy up to the length of their chosen benefit period (often age 65).
There are a number of definitions that are important in a disability contract:
- Total Disability:
- This will determine whether one's condition is severe enough to justify the disability benefit.
- Elimination Period:
- The period the insured must wait before the disability payments commence.
- Benefit Period:
- The length of time the disability payment will continue.
- Illness Definitions:
Home | About Us | Family Wealth Optimization | Family Business Advising | FAN Links | Surveys | Contact Us Investaflex Financial Group | 308-938 Howe St. Vancouver, BC V6Z 1N9 Copyright © 2004 Investaflex
Tel: 604.331.2520 | Toll Free: 1.888.496.3539 | info@investaflex.com
Empowered by Port 80 Solutions | Privacy Policy