What would happen if you were to become unable to work and earn an income? Can you imagine the effect it would have on your family? It’s not a situation we like to think about, but it’s necessary to consider. By asking this question, you can establish a plan, should such an event occur, that guarantees your family would be covered. With a disability insurance policy, you don’t have to think about this potential scenario because you’d be protected. You can maintain your lifestyle with disability insurance. Read on to learn how.
What is disability insurance?
Disability insurance is a form of insurance that helps people maintain their lifestyle if they become disabled and are unable to work. The purpose of disability insurance is to provide financial support to those who become disabled due to an injury or illness so that they can continue to live the same lifestyle as before.
Maintain Your Lifestyle with Disability Insurance
Steady Stream of Income to Pay Your Bills
If you are unable to work due to a disability or work-related injury and have disability insurance, you wouldn’t have to worry because you would have a steady stream of income. You can use this money to pay bills, including rent, mortgage, utilities, and groceries. You can also use it to cover medical expenses such as rehabilitation or treatment for the disability. It means your spouse wouldn’t have to take on the burden of supporting the entire family. Their lifestyle would be maintained through the disability insurance.
Financial Security So You Can Focus on Recovery
With the income that disability insurance provides, you can maintain your lifestyle while you focus on your recovery. After all, recovery should be your priority in this situation. You don’t want to be stressing about how you’re going to pay your bills and support your family. When you have disability insurance, you don’t have to. It helps remove financial insecurity.
Plan for the Future without Worry
On top of that, it’s much easier to plan for the future when you know you’ll always be covered even if you become disabled. The stable stream of income that disability insurance provides enables you to make important decisions about your future, like buying a house, starting a family, or pursuing further education without the same level of concern if you didn’t have insurance.
Insurance That Works When You Can’t
Disability insurance is insurance that works when you can’t. And it’s for everyone. It gives you the money you need to pay for your critical expenses, from your mortgage to car payments and groceries. Disability insurance helps ensure that you and your family can continue to live comfortably even if you’re not able to work.
With disability insurance, you can focus on getting better instead of worrying about paying bills.
For more than six decades, Canadian Premier Life Insurance Company has been committed to providing financial security for Canadians who are facing uncertainties. They now insure more than 1 million Canadians from coast to coast.
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