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Disability Insurance

Did you know more than 1 in 4 people today will become disabled at some point before retirement? It only takes a few minutes to find out how we can protect your future

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What is Disability Insurance?

Disability Insurance, often called DI or disability income insurance, or income protection, is a form of insurance that insures the beneficiary's earned income against the risk that a disability creates a barrier for a worker to complete the core functions of their work. 

For example, the worker may suffer from an inability to maintain composure in the case of psychological disorders or an injury, illness or condition that causes physical impairment or incapacity to work. It encompasses paid sick leave, short-term disability benefits (STD), and long-term disability benefits (LTD).

Statistics show that in the US a disabling accident occurs on average once every second. In fact, Nearly 18.5% of Americans are currently living with a Disability, and 1 out of every 4 persons in the US workforce will suffer a disabling injury before retirement.

Types of Disability Insurance

Individual Disability Insurance - Those whose employers do not provide benefits, and self-employed individuals who desire disability coverage, may purchase policies. Premiums and available benefits for individual coverage vary considerably between companies, occupations, states and countries. In general, premiums are higher for policies that provide more monthly benefits, offer benefits for longer periods of time, and start payments of benefits more quickly following a disability claim. Premiums also tend to be higher for policies that define disability in broader terms, meaning the policy would pay benefits in a wider variety of circumstances.

Key-person Disability Insurance -  Key Person Disability Insurance provides benefits to protect a company from financial hardship that may result from the loss of a key employee due to disability. The company can use the benefits to hire a temporary employee should the disabled employee's disability appear to be short-term. In the case of permanent disability, benefits are used to help defray costs related to hiring a replacement, including recruitment, training, startup, loss in revenue and unfunded salary continuation costs.

Business Overhead Expense Disability Insurance - Business Overhead Expense (BOE) coverage reimburses a business for overhead expenses should the owner experience a disability. Eligible benefits include: rent or mortgage payments, utilities, leasing costs, laundry/maintenance, accounting/billing and collection service fees, business insurance premiums, employee salaries, employee benefits, property tax, and other regular monthly expenses.

Contact us to learn more about the disability insurance coverage for you.
(416) 275-3581​
3250 Bloor Street West
East Tower, Suite 600

Toronto, ON M8X 2X9
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Disability Insurance Quote
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Trident Insurance Brokers
3250 Bloor Street West
East Tower , Suite 600
Toronto, ON M8X 2X9
Phone: (416) 775-9452 or
Toll free (844) 303-6026
Fax: (888) 351-3865
​Click Here to Email Us

​Location

Disclaimer:  No coverage will be bound, added, altered, changed or cancelled as a result of submitting a request for information or quotation of insurance. Only coverage that has been confirmed bound by Trident Insurance Brokers Inc. or any of its affiliated companies will be considered bound. Coverage is also subject to an acceptable signed application while meeting the underwriting guidelines of the Insurance Company providing coverage.