One of the greatest financial risks we face during our working years is the loss or impairment of our ability to earn an income. Without an income, we may be unable to maintain our family’s standard of living, save for retirement or achieve many of our other financial goals and objectives.
Disability insurance replaces a portion of your lost income in the event that you suffer a prolonged injury or illness and are unable to work and earn an income. It provides tax-free income if you become sick or injured and money to pay business overhead in your absence. This type of insurance is well suited for anyone who is self employed and therefore does not have disability insurance through their employer. Both personal and business disability insurance products are available to help cover your expenses during a disability.