SHORT AND LONG TERM DISABILITY INSURANCE

When you unable to work for an extended length of time due to a disability, you lose the ability to earn an income.  This will greatly impact your ability to provide for yourself and your loved ones. Meanwhile, your living expenses continue-in fact, they're likely to increase for a number of reasons. You could need help around the house or have higher medical expenses, for example. That's where disability income insurance (STD and LTD) comes in. This protection is designed to help you maintain your standard of living when you cannot work.   Disability insurance provides you with income to cover your living costs and supplement your income until you can go back to work.

Disability income insurance is needed by just about everyone who earns a living. Surprisingly, single people often need it more than married couples because they don't have a spouse's income to fall back on if they are injured or become too sick to work. On the other hand, most married people have a hard time imagining what it would be like to live on one salary when they barely get by on two. And unfortunately, disability strikes more often than you may think.

A Long Term Disability can be very expensive.  For example: If a 40 year old person with a salary of $75,000/yr becomes totally disabled, the disability claim can result in a benefit of well over $1,000,000 in benefits paid to that individual.  

The above is meant to give a brief overview of Long Term and Short Term Disability coverage.  For more information please call us at 604.687.7773 or email solutions@customplanfinancial.com