Disability insurance: Is it really that important?

Did you know:

• That one person age 35 in two risks becoming disabled for at least 90 days before reaching age 65?
• Only 13% of Quebecers have individual insurance that will help them replace part of their income in case of disability?

If you work for a company full-time, you are generally eligible for employment insurance. Moreover, your group insurance usually includes disability coverage. But be careful: some group insurance plans, particularly for SMEs, pay disability benefits only after employment insurance benefits have been paid (maximum 15 weeks) and for two years only. After this period, you may end up with no income!

If you are self-employed, you are not eligible for employment insurance and don't have access to group insurance. Disability insurance enables you to meet your financial obligations without jeopardizing your financial situation. Falling ill or being the victim of an accident that would prevent you from working, even if only for a few days, could be catastrophic if you haven't taken the necessary precautions to make up for a potential loss of income.

A financial security advisor

A Desjardins Financial Security advisor¹ can help you to better understand the features of your insurance coverage. Among other things, he will make sure that you have enough insurance to compensate for a loss of income as well as cover additional expenses following an accident, critical illness or disability.

	At the caisse	Contact a Financial Security advisor1 at a caisse.

1. Ontario Life and Health Insurance Agent.