Insurances

Disability insurance

Disability insurance protects your income if an illness or injury prevents you from working. For professionals, entrepreneurs, and the self-employed, it is often the most important—and most overlooked—protection.

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Why it's essential

Replacing 60% to 80% of your income

Coverage for illness or injury not related to work

Short-term or long-term options depending on your needs

Benefits are tax-free if the premium is paid personally.

1 / 3 Affected workers

60-80% Income covered

65 years Possible protection

Options

Two forms of protection

Disability insurance is divided into two main categories, depending on the duration of the disability to be covered.

Short-term disability

Temporary protection that pays a percentage of your income for a few weeks to a few months. The waiting period is usually short (0 to 14 days), allowing for quick financial assistance.

Typical duration: a few weeks to 6 months

Short waiting period — quick help

long-term disability

Designed for prolonged disabilities, it pays a percentage of your income until you return to work or until retirement age (often 65). The waiting period is longer (90 to 120 days).

Protection up to age 65 in certain cases

Covers chronic illnesses and serious injuries

Evaluation

Pros and cons

Disability insurance is a powerful tool, but it is important to understand what it covers — and its limitations.

Benefits

Replacing a percentage of your income (60% to 80%)
Benefits often not taxable if paid personally
Protects your standard of living and that of your family
Allows you to focus on healing rather than finances
Customizable with addenda according to your needs

Drawbacks

Waiting period before benefits begin
The definition of "disability" varies depending on the policy.
Certain pre-existing conditions may be excluded.
Bonuses may be higher depending on your profession and age.

Additional option

Premium protection amendment

An optional addition that can make a real difference in difficult times.

Your premiums are suspended during your disability.

The premium protection endorsement ensures that you won't have to pay your insurance premiums while receiving disability benefits. It's an extra layer of protection that reduces the financial burden when you need it most.

Bonuses suspended for the entire duration of the benefits

Your coverage remains active without interruption

Minimal additional cost compared to the peace of mind

Concrete example

Lucie, a 36-year-old lawyer, has taken out long-term disability insurance with the premium protection rider. When an illness prevents her from working for an extended period, she receives her benefits. et no longer has to pay insurance premiums for as long as his disability lasts.

Bonuses suspended = less financial pressure

Concrete examples

How does it work in practice?

Julie, nurse — short term

Julie, 28, has short-term disability insurance. When she injures her back, the policy pays her a percentage of her income during her recovery, allowing her to focus on healing without financial stress.

Benefits paid within a few weeks

François, accountant — long term

François, 42, has taken out long-term disability insurance. When a chronic illness prevents him from working, the insurance company pays him a percentage of his income until he can return to work or reach retirement age.

Protection up to age 65

Explorer advantage

Other insurance products

Discover the additional protections that can strengthen your overall financial plan.

Life insurance

Financially protect your loved ones and your estate with coverage tailored to your situation.

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Critical Illness Insurance

A lump sum paid upon diagnosis of a covered serious illness, with no restrictions on use.

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Travel insurance

Medical and cancellation coverage for your trips in Canada and abroad.

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Take action

Protect your income, protect your future

Your ability to earn an income is probably your most valuable asset. Our advisors can help you find the right coverage for your situation—whether you're an employee, a professional, or self-employed.