Have you thought about your risk of becoming disabled and not being able to work? Mental health issues account for about 30 percent of Canadian disability insurance claims. Other examples include heart disease, cancer, back injuries, and other illnesses.
Many disability claims result from injuries that happen on the job. In fact, 65,664 workers in Ontario during 2019 lost work time due to injuries.
Have you enrolled in a disability insurance plan? Do you have enough savings to pay your expenses for about 34 months? This is the time frame for most long-term disability claims.
If you answered "no," it’s time to consider your options. Having a solid plan can help avoid financial hardship for you and your family. It also decreases the added stress of foreclosures or bankruptcy.
Keep reading to learn more about disability insurance.