Rupinder Rai

Disability Insurance Mississauga

Disability Insurance Covers Your Loss of Income

Disability Insurance provides a portion of income for working individuals who become ill or injured and are unable to work.

Pay your mortgage
This insurance covers monthly mortgage payments so you can relax and not worry about defaulting on a mortgage payment and paying a penalty.
Emergency expenses
If you find yourself in a sudden need for money, Disability insurance can cover you. This depends on the situation and amount of cash you need.
Doctor Consultation and Rehabilitation
This type of insurance is a great choice if you are going to rehabilitation sessions, doctor consultations or are recovering from surgery.
Tax-free
You can enjoy tax-free benefits if you pay the entire premium amount on your own

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    What is Disability Insurance Mississauga? When would I Need It?

    Disability insurance is another form of insurance, also called income protection insurance. Disability insurance provides some income replacement if you either become too ill or injured to work. It can be short or long term. Disability insurance helps by paying a portion of your paycheque using around 60% to 85% of your usual income

    Coverage for short term benefits usually last between 6 and 26 weeks, but can last up to 52 weeks. It is used for accidents, sports injuries and minor health issues. Long-term disability coverage can last anywhere from 2 to 5 years, and continue until the age of 65. This type of insurance is often used for severe accidents, musculoskeletal problems and similar situations.

    It is recommended to get Disability Insurance in Mississauga if you have to take care of a family, have bills to pay, monthly mortgage premium payments and other day-to-day expenses.  It is one of the many available options in the insurance market to avoid any financial loss if you are too injured or sick to work.

    Factors that Affect Cost of Disability Insurance in Mississauga

    Age: Disability insurance makes this a major factor in determining the cost. The younger you are, the less chance of you becoming disabled. This shows the sooner you apply for disability insurance, the less you pay.

    Smoking:Smoking will usually cause you to pay higher premiums for disability insurance. By not smoking, you will get affordable premium rates and substantial health benefits.

    Health and occupation: If you have a high-income desk job, compared to a manual labourer or skilled tradesmen, the cost of your disability insurance will be low. If you are healthy, have no critical illnesses, the cost will be low for you as well.

    If I’m Self-Employed, Am I Eligible for Disability Insurance?

    The simple answer is yes. There are many Canadians who are starting their own businesses. There is customized Disability Insurance policies for the self-employed. All you need are the required documents proving income. We will take care of everything else. Simply contact Rupinder Rai to answer any questions you may have. 

    Disability insurance may not be easy to think or talk about. No one wants to think about being sick or injured to the point of not being able to bring home an income. There are circumstances, however, when you may not be able to work short or long-term. Disability Insurance can protect you and your family from many financial hardships. Contact Rupinder Rai for further details.

    Protect your family and yourself with Disability Insurance
    Whether you are looking for Short- or Long-Term Disability Insurance, we are here to help. Contact us now.
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