Monthly benefit
A monthly payment that replaces part of your income during your period of disability.
Disability Insurance
Income protection if an illness or injury prevents you from working
What's included in our disability insurance
Coverage and conditions vary depending on the plan chosen.
Illness and injury
Protection when a covered illness or injury prevents you from working for several weeks, several months or longer.
Total and partial disability
Some plans pay a benefit even if you can still work, but with reduced duties or reduced income.
Short and long term
Benefits paid for two years, five years or up to an age set in the contract, depending on the plan chosen.
Why choose Protecto for your disability insurance?
Advisors registered with the AMF, bilingual service, and online subscription in minutes, with Protecto.
Protection tailored to your occupation
Some contracts consider your inability to perform your regular occupation. We explain the differences between disability definitions.
Multiple insurers compared
We compare the plans offered by the insurers we work with before recommending a solution.
A quote based on your profile
Monthly amount, waiting period and benefit duration tailored to your income, your occupation and your existing coverage.
Advisors registered with the AMF, bilingual service
An advisor guides you from the initial analysis to the setup of your insurance, in French and English.
Disability insurance, also called income protection or income replacement insurance, pays a monthly benefit when an illness or injury prevents you from working.
Your ability to earn an income is one of your most important assets. Without an income, expenses continue: mortgage or rent, car payments, groceries, debts and family expenses. Depending on the plan chosen, benefits begin after a set waiting period and are paid for a few years or up to an age set in the contract.
Who is disability insurance for?
- Self-employed workers: your income depends directly on your ability to work. A disability can quickly affect your personal finances and your business.
- Professionals: individual coverage can better reflect your income, your occupation and your financial responsibilities.
- Business owners: some plans can help you maintain your personal income or cover certain expenses related to your business.
- Employees: your group plan may offer protection, but the insured amount can be limited or insufficient to cover your expenses.
- People without a group plan: individual insurance lets you build your own income protection.
How to choose your coverage?
Price should not be the only criterion. Points to compare:
The definition of disability. The contract must specify in which situations you are considered disabled. Some contracts consider your inability to perform your regular occupation.
The waiting period. This is the period between the start of the disability and the start of benefits, for example 30, 60, 90 or 120 days. A longer waiting period lowers the cost, but you must be able to cover your expenses during that time.
The benefit duration. Benefits can be paid for two years, five years or up to a set age, often 65.
Partial disability. Some plans can pay a benefit when you are still able to work, but with reduced duties or reduced income.
Exclusions and limitations. Your health, your occupation and your activities can influence the conditions offered.
Our advisors can help you choose the plan suited to your situation. Talk to a financial security advisor, or get your quote online.
Is your group insurance enough?
A group plan can offer a good base of protection, but it is important to check:
- The maximum monthly amount
- The percentage of income covered
- The definition of disability
- The waiting period before benefits begin
- The benefit duration
- Whether benefits are taxable
- Coverage of bonuses and commissions
- What happens if you change jobs
Individual disability insurance can supplement your group plan and better protect your real income.
How much disability insurance do you need?
The right amount depends on your income, your expenses and your existing coverage. Our analysis considers:
- Your monthly income
- Your essential expenses
- Your mortgage or rent
- Your debts
- Your available savings
- Your group plan
- How long you could live without an income
The goal is not to insure you for the maximum amount, but to plan sufficient protection to maintain your financial stability.
Short-term or long-term disability insurance?
Short-term disability insurance. It can replace part of your income for a limited period following an illness or accident.
Long-term disability insurance. It can pay a monthly benefit for an extended period when your disability continues.
The right protection depends on your savings, your group plan and your ability to cover your expenses during the waiting period.
Frequently Asked Questions
What does disability insurance cover?
Disability insurance can pay a monthly benefit when an illness or injury prevents you from working. The situations covered depend on the definition of disability, the exclusions and the conditions of the contract.
How much does disability insurance pay?
The amount depends mainly on your income, your occupation and your existing coverage. The insurance generally aims to replace part of your income.
How long before benefits begin?
Benefits begin after the waiting period you choose, for example 30, 60, 90 or 120 days. A longer waiting period can reduce the cost of the insurance, but you must be able to cover your expenses during that time.
How long can benefits be paid?
Depending on the contract, benefits can be paid for two years, five years or up to a set age, often 65. They generally stop when you no longer meet the definition of disability set out in the contract.
Is my group insurance enough?
Not always. The covered amount can be limited and some income, such as commissions or bonuses, may not be included. An analysis helps determine whether supplemental protection is needed.
Can I get disability insurance if I am self-employed?
Yes. Disability insurance is especially important for self-employed workers who do not have a group plan.
Can I be covered for my specific occupation?
Some contracts offer a definition of disability tied to your regular occupation. Conditions vary depending on your trade, your experience and the plan chosen.
Are disability insurance benefits taxable?
In general, benefits from individual disability insurance are non-taxable when you pay all the premiums yourself. In a group plan, they can be taxable if the employer pays part of the premiums. The tax treatment depends on how the plan is structured.
Can I get insurance if I have a medical condition?
It depends on your health, the condition involved and the insurer’s rules. An exclusion, a limitation or an extra premium may apply after the file is reviewed.
How much does disability insurance cost?
The price depends on your age, your occupation, your income, your health, the insured amount, the waiting period and the benefit duration.
Why do I need disability insurance?
About one in three Canadians will experience a disability lasting more than 90 days before age 65. Without protection, you could deplete your savings. CSST and QPP offer limited protection.
Ready to buy your disability insurance?
Buy online in minutes, or talk to a financial security advisor.
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