What is Disability Insurance?
Disability is the most common reason for loss of income.. It can happen because of an injury, a health issue, an illness, or a mental health issue. Individuals who become disabled during their lifetime are usually unable to continue with their former profession and may face financial hardships because of it. A Disability Insurance helps provide financial assistance and security to such individuals and their families.
What are the different kinds of Disability Insurance?
There are multiple types of coverage options under Disability Insurance. Some of them are:
Individual insurance plan
Group insurance plan
Worker’s compensation plan (Government sponsored)
Canada pension plan (Government sponsored)