Disability Insurance

Below is a breakdown of the types and relative prevalence of disabilities drawn from RBC Insurance open disability insurance claims at the end of 2006.

How to get a good disability policy

First of all, let's define disability income insurance, what is it, what does it do, and how can it help you?

According to the 1985 Commissioner's Disability Table, 50 % of individuals will suffer a total disability longer than 90 days before they reach age 65. So you can see, that half of us, at some point and time in our lives, will become unable to work becasue of an illness or injury.

The inability to work will cause us to lose income, as most of us will suffer a reduction of income for the time that we miss from work. A loss of income can create a lot of problems in our personal and business finances. That's where disability income insurance comes in, to bridge the gap.

Disability Insurance provides a simple way to protect one of your most valuable assets - your income, should you become disabled.

Chosing the right type of disability income policy is very important, because if you chose the wrong one, it could cost you a l;ot of money in lost income for a very long time. Here at Quote Shop, we are experts at disability insurance, we know all the insurance companies that provide disability benefits, and we can match up the right disability product to your needs.

Here is some tips on how to get the best disability income policy at the the best price, with the best Insurance company.

Today, in Canada, there are 3 major players in the disability insurance market. Those Insurers are:

• Manulife Insurance
• Canada Life
• RBC Insurance
• Great West Life

Then there are a few smaller players that have some niche type disability insurance products, and specialize in certain occupations. Those companies are:

• LS Mutual (La Survivance)
• The Edge (owned by RBC Insurance)
• Innovative
• Penncorp

All of these companies have good policies, but they are not good for everybody, because every-ones situation is different.

Some policies are more basic, and some are more comprehensive, some are cancelable, soem of them are not guaranteed, so it is really important that you speak to someone that is familiar with all these options, and can advise you on what's best for your situation.

You can start by filling oout the form on top, and let us shop the market for you, and give you some quotes, but also, please give us a call to discuss the details, to be sure that you get the right kind of coverage.