Disability, Critical Illness & Long Term Care

Working with tier one insurance companies including RBC Insurance, Sun Life Financial, Manulife Financial, Canada Life, Great-West Life, BMO Insurance, Industrial Alliance and Empire Life allows us to select from the most comprehensive and competitive products available in order to meet your disability, critical illness, business overhead, and long term care insurance needs.

Disability Insurance

Disability insurance is the foundation of a well-constructed financial plan. As hard-working professionals with financial responsibilities, one of our greatest fears is the thought of lost income due to an injury, accident or sickness.

Disability insurance is designed to alleviate those fears by protecting your income if you are unable to work.

We offer non-cancellable disability insurance plans tailored to meet your individual needs. There are several policy options for you to consider when constructing your disability insurance plan. These include the own occupation definition of disability, cost of living adjustment, future income option, and Hepatitis B/C & HIV protection for health care professionals.

Own occupation is the most comprehensive definition of total disability. It states that you will receive full disability benefits if you are unable to perform the important duties of your own occupation due to injury or sickness, and are under the care of a physician.

Cost of living adjustment (COLA) protects you from the effects of inflation while on disability claim by indexing your disability benefit annually on a compound basis to reflect changes in the consumer price index.

Future income option (FIO) allows you to increase your monthly disability insurance benefit on your policy anniversary date with no medical required, subject to your income justifying the increase.

For complete details on all policy features and other options available including retirement protection rider, return of premium benefits, please complete the Request a Quote form at right.

Medical Students, Residents or Fellows, First Year Doctors or Specialists

If you are a medical student, resident or fellow, first year doctor, or specialist, there are special programs and disability insurance limits available to you without proof of income. 

For more information on these programs, please complete the Request a Quote form at right.

Stage of medical training Disability Insurance per month (non taxable)
Medical specialists in their first year of practice up to $11,000 per month
General practitioners in their first year of practice up to $ 7,500 per month
Fellows up to $ 8,500 per month
Residents up to $ 4,500 per month

Disability Insurance Limits

The amount of monthly disability insurance benefit you are eligible for is determined by your income. The following chart illustrates how much disability insurance per month you are eligible for based upon your income before tax.

Income Disability Insurance per month (non-taxable)
$100,000 $5,200
$200,000 $8,550
$300,000 $11,350
$400,000 $13,675
$500,000 $16,050
$600,000 $18,525
$700,000 $20,875
$800,000 $23,075
$900,000 $25,150
$1,000,000 $27,100

Source: RBC Insurance – 2014. Limits may vary by company.

Office Overhead Insurance

Office Overhead insurance is designed to pay for specific overhead expenses of your professional practice such as rent, utilities, and employees’ salaries in the event of a disability. The policy covers total, residual and partial disability and can be designed with a benefit period of up to 24 months.

Request a Quote

Critical Illness Insurance

Critical illness insurance pays a one-time tax free lump sum payment of up to $2,000,000 soon after the onset of one of 22 covered conditions such as a heart attack, stroke, cancer, multiple sclerosis etc. The coverage is meant to alleviate the financial burden suffering a critical illness can create, thereby allowing you to make the best possible medical decisions without financial constraints.

Critical illness insurance is lifestyle protection. It pays out regardless of your ability to return to work and is paid independently from your disability coverage. The coverage is available to age 75 or age 100.

One of the more attractive policy features available with critical illness insurance is the return of premium option. This option states that as long as you have not made a claim, you may elect to receive up to 100% of the total premiums paid, with some policies as soon as the tenth or fifteenth policy year.

We recommend reviewing your critical illness coverage every few years to ensure you have the most up-to-date policy provisions and definitions. Should you wish to review your current policy and/or your insurance needs, please complete the Request a Quote form above.

To enroll for up to $75,000 of critical illness insurance with NO MEDICAL click here.

Long Term Care Insurance

It is no secret that as Canadians age, we worry about the cost of health care in retirement. We want the financial freedom to make choices about our health care needs and the ability to maintain our independence so that we are not a burden to our spouses/families in the future.

Long term care insurance provides a way to maintain your lifestyle and protect your financial security if you can no longer independently manage daily activities such as feeding, dressing, bathing, continence, transferring and toileting.

In the event of a cognitive impairment or the inability to complete two or more activities of daily living, your long term care benefit will be paid tax-free to help cover the cost of care. The coverage is available with inflation protection that will increase the benefit amount while on claim. Long Term Care Insurance is available with no medical visit from a nurse or doctor.