Calgary Disability Insurance
Injuries and illness are always a risk and can impact your ability to work. Calgary disability insurance offers protection that is designed to replace 45-65% of a disabled person’s gross income if they’re unable to work for a certain period.
When you’re suffering from an injury or illness, you shouldn’t have to worry about money. Unfortunately, too few people in Calgary have disability insurance coverage that could help give them peace of mind.
Contact one of our experienced disability insurance brokers in Calgary to get a free disability insurance quote or to learn more.
What is covered by disability insurance in Calgary?
In Calgary, disability insurance helps replace your gross income if you are injured or ill and unable to work for a specific time period.
What are the benefits of disability insurance in Calgary?
The benefit of disability insurance in Calgary is that allows you and your family to deal with financial hardship when you are unable to work due to an injury or illness. Many plans also include provisions for rehabilitation.
The benefits of having your own disability insurance plan in Calgary are that:
- Your coverage isn’t interrupted if you change employers or leave a union
- Your policy can be tailored to your individual needs
- Benefits are tax-free
If you own your own business, you may also have help with overhead costs, deferred income taxes, and loans.
What are the different providers of disability insurance in Calgary?
There are several potential providers disability insurance for Calgarians:
- Group disability insurance (offered through employers or unions)
- Government disability insurance
- Individual disability insurance
You may not have access to all these providers. Knowing your group and government disability insurance eligibility is an important part of determining what individual disability insurance coverage you need.
What’s the difference between individual and group disability insurance in Calgary?
Here are the main differences between individual and group disability insurance in Calgary:
- A group plan is generally purchased and managed through an employer or association (like a union).
- A group plan does not “follow” you if you change employers or leave the association.
- A group plan may be less flexible.
- A group plan may be less comprehensive.
- A group plan may be cheaper.
Between any two policies, there may be differences in the amount you’re eligible to be paid, policy limits, what is considered a disability, and any limitations or exclusions.
Why should I get an individual disability insurance policy in Calgary?
An individual disability insurance policy helps Calgarians get more flexible, comprehensive coverage that they don’t lose if they change employers or leave a union. Plus, the benefits are tax-free!
Plus, if you don’t have this protection through your employer or union, it is a great way to give yourself peace of mind if you get seriously ill or injured.
What is the difference between short- and long-term disability?
In Calgary, the difference between short-term and long-term disability is usually:
- The amount of time you can receive the benefit
- The amount of money you will receive (generally, both are a percentage of your income, but these percentages will be different)
- The maximum amount of money you will receive each month (known as the policy limit)
- What is considered a disability
- Limitations or exclusions
How does disability insurance interact with other benefits in Calgary?
Disability insurance may be reduced or offset by any other benefits you receive, including worker’s compensation, employment insurance, the Canadian Pension Plan, and other disability coverage.
It’s important to discuss how your various insurance policies and social security interact with each other with a Calgary disability insurance broker.
When can you use disability insurance in Calgary?
Disability insurance can be used in Calgary when you are unable to work due to an injury or illness. What qualifies as a disability will depend on the policy.
How much does Calgary disability insurance cost?
The cost of disability insurance in Calgary can be anywhere from $50 to $500 per month.
What affects the cost of disability insurance in Calgary?
The following factors can affect disability insurance rates in Calgary:
- Monthly earned income
- Other disability coverage
- Maximum payment amount per month
- Waiting period
- Coverage options
Depending on the insurance company, there may be additional factors.
Can you purchase disability insurance in Calgary?
Yes, you can purchase disability insurance in Calgary. You can request a disability insurance quote online, give us a call, or stop by our Calgary office.
How much disability insurance do you need in Calgary?
How much disability insurance you need will depend on a few factors, such as:
- Your lifestyle or standard of living
- Your financial responsibilities (how many people depend on your income, mortgage and other loan payments, et cetera)
- Your financial resources (do you have a partner with an income, another source of wealth, savings, et cetera) and how far they would stretch
- Your employment (what type of work do you do, how flexible it is, if you could transition into another role or field, et cetera)
Essentially, you need to compare your expenses to your coverage and other financial resources. Your disability insurance should help you cover the essentials.
Do I need disability insurance in Calgary?
Disability insurance is important coverage if you have dependents or loans and lack the financial resources to pay these expenses if you’re unable to work. It helps you survive the financial hardship that goes along with a serious illness or injury.
Is there a waiting period for disability insurance in Calgary?
Many disability insurance policies in Calgary will have a waiting period. This is a period of time after you get sick or injured before your coverage kicks in. Generally, the waiting period is 30, 60, 90 or 120 days. Some companies offer shorter waiting periods or waived waiting periods for certain conditions as well.
How to Get Disability Insurance Quotes in Calgary
Here’s how to get a disability insurance quote in Calgary:
- Contact Rogers Insurance online, by email, by phone, or in-person at our Calgary office.
- Speak with a disability insurance broker.
- Apply for disability insurance.
- You may need to provide additional medical or financial information.
One of our brokers will help you with your Calgary disability insurance by finding out which coverage fits your needs and budget as well as taking care of the paperwork.
Why should I work with Rogers Insurance for my Calgary disability insurance?
You should work with Rogers Insurance for your disability insurance in Calgary because we’re:
- Independent – We work for you, not an insurance company.
- Experienced – Our Calgary disability insurance brokers have decades of experience developing personal and group plans.
- Knowledgeable – Our staff is there to answer your questions and help you through application, renewal, and claims processes. They receive ongoing training to ensure they’re up to date on everything they need to know.
- Competitive – We work with a large number of insurance companies to offer you the best choice of coverage and the most competitive Calgary disability insurance quotes.
- Renowned for Customer Service – We pride ourselves on our reputation for exceptional customer service.
Request a disability insurance quote online, by phone, or stop by to talk to a broker in our Calgary office yourself to see how Rogers can help you protect yourself and your family if you’re unable to work.