Why Disability Insurance Matters, More Than You Think

It’s not every day you meet someone who’s survived being hit by a bus; I met someone this past Monday who was just that. 

A walking miracle.

The story is both inspiring and sobering. They lived but their life has forever changed.

After the accident, it took years of rehabilitation before they could return to work.

The question is: How did they pay the bills during that time?

The answer: Disability insurance.

When we think about injury coverage, many assume Workers’ Compensation (like WSIB in Ontario) has them covered.

But WSIB only applies if you’re hurt on the job.

Disability insurance is different. It protects your income whether the accident happens at work, at home, or on vacation - anywhere.

If you have group benefits through work, you may already have disability coverage. But it often isn’t enough.

Many workplace programs have a maximum limit in place on their group benefits, which is often less than what is required for your income.

Do a quick check:

1. Take your annual salary.

2. Divide by 12 to get your monthly income.

3. Multiply by 66.67% (think after tax income).

   
   

Would the amount in your benefits cover your mortgage, utilities, groceries, and other essentials if you couldn’t work for months, or even years?

If the answer is “no,” now is the time to act.

A supplemental disability policy can top up your coverage so you can maintain your lifestyle and focus on recovery if the unexpected happens.

Because accidents don’t book appointments and they don’t just happen at work.

Bottom line: Disability insurance isn’t just another line item in a benefits package. It’s the safety net that keeps life moving when you can’t.