Protect Your Income with Disability Insurance
Unexpected injuries or illnesses can happen at any time—disrupting your ability to earn income. A Disability Insurance plan helps ensure your financial stability by replacing a portion of your income if you're unable to work.
| Feature | Details |
|---|---|
| Purpose | Replaces a portion of your income if you can’t work due to a disability (injury, illness, mental health issue). |
| Who can apply | Employees, self-employed individuals, business owners, and contractors. |
| Coverage Amount | Typically 60% to 85% of your regular income. |
| Benefit Period | Short-term (a few months) or long-term (until age 65 or retirement). |
| Waiting Period | Typically 30 to 120 days before payments begin. |
| Taxation | Tax-free if you pay the premium personally. Taxable if employer-paid. |
| Term | Meaning |
|---|---|
| Own Occupation | You're considered disabled if you can’t do your specific job. |
| Any Occupation | You're only considered disabled if you can’t do any reasonable job. |
| Non-cancellable | Your insurer can’t cancel or raise your premiums. |
| Elimination Period | The waiting period before benefits start (usually 30-120 days). |
