Disability Accident Benefits
What would happen if you couldn't work?
Most of us don't consider the fact that our ability to earn an income is our single biggest asset. Accidents can happen at any place and any time. Serious accidents can result in broken bones, burns and even paralysis. The last thing you and your loved ones want to worry about is living expenses while you're recovering. Take comfort in knowing that with our portfolio of gold standard programs you'll receive a cash benefit to use however you want.
Who needs it?
Disability insurance isn't just for the self-employed. Even if you have group disability insurance coverage at work (often called LTD or long-term disability), you need to be careful to ask how a disability is defined, what conditions are covered and how much and how long you can expect to receive income.
Also, Worker's Compensation only covers certain types of workers and work-related accidents only, so if you fall off your bike on the weekend and can't work for a long time, you may not be covered. Plus, unemployment insurance sickness benefits only cover up to a maximum of 15 weeks -- what happens if you can't work after it runs out? Disability benefits can help to make ends meet when the need arises.
How does it differ from other insurance?
Disability insurance is often confused with two other types of insurance: long-term care insurance and critical illness insurance. The difference is that disability insurance covers loss of income, whereas long-term care insurance and critical illness insurance are designed to cover health-related costs:
- Disability insurance pays a monthly benefit to help cover loss of income for those who can't work because of an injury or illness.
- Long-term care insurance can either reimburse your expenses or pay you a regular recurring benefit to help cover the cost of care you may require should it be determined that you have become significantly physically dependent or cognitively impaired and require care such as nursing care at home or a stay in a chronic care facility.
- Critical illness insurance pays out a lump-sum to help cover costs should you be diagnosed with a serious illness or condition covered by your policy and you survive for the required period of time.
It's therefore important to consider your specific needs and life stage when choosing the combination of insurance that's right for you.
With the disability programs we offer:
- benefits available first day to lifetime
- depending on the plan you qualify for the lifetime monthly benefits range from $600 up to $4,000 and are paid to you every month you are totally disabled because of a covered accident
- once you qualify, all of your benefits are fixed, even if your income has fluctuated when you make a claim
- 90% of completed claims are settled within 7 days
- benefits paid directly to you or the beneficiary you name
- you choose your own physician or chiropractor
- waiver of premium after 6 consecutive months of Total Disability