Some Facts to Clear Your Confusion Regarding Canada Life Disability Insurance

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Some Facts to Clear Your Confusion Regarding
Canada Life Disability Insurance
www.supervisa-insurance.com
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Canada life disability insurance is generally a
tax-free monthly payment that will cover your
expenses if disability hinders you from earning
for a brief period or permanently. It is not that
your disability has to be visible to the naked
eye. Even if you are suffering from mental health
problems and chronic health conditions not
allowing you to work, you can have the benefits
of this insurance coverage.
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The working nature of life disability insurance

• It is good to know about the working nature of
  this insurance. However, it is for sure that when
  you are with a reputed insurance specialist in
  Canada, he will explain that to you.
• You can personalize the coverage by addition
  of optional benefits and selecting the amount you
  desire to have
• You should not miss any payment of the
  monthly premium.
• You can file a claim if you have a disability
  after purchasing Canada life disability
  insurance.
• After the elimination period, you will start
  having monthly payments according to your limit.
• If you can return to work or after the end of
  the benefit period, the disability payment will
  stop,

The reasons for having life disability insurance
You may be wondering why you need to purchase
such an insurance. It is not that there is a
surety that you can work till the end of your
life. There may be accidents, or you may suddenly
develop mental health issues stopping you from
going to work. So, then how will you run your
family expenses? That is where this insurance
comes into play.
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We commonly see that before attaining the age of
65, 40 of Canadians have a disability for 90
days. You may be one of them. In such an
instance, your monthly payment from the insurance
will allow you to run your family expenses. It
is possible to have 80 to 90 percent of the pay
cheque you bring home during your regular days if
you have life disability insurance. Even during
your period of disability, you do not have to use
money from your retirement savings if you have
purchased Canada life disability insurance. So,
you now understand how essential it is to have
such insurance coverage.
The cost of the policy

• Various factors affect the cost of the policy.
  Let us have a look at some of those.
• The cost will depend on the monthly drawing that
  you desire to have. The higher the drawing, the
  higher will be the cost of coverage.
• If you desire to enjoy the benefit of the
  coverage for a more extended period, the cost
  will be more.
• If you can extend the elimination period, your
  insurance coverage will be less.
• If you are young, the insurance will cost less.

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• Your health also determines the cost of the
  coverage.
• If you are in a risky occupation, the cost of
  coverage will be more.

So, if you have decided to purchase Canada life
disability insurance, contact Gurinder Chahal,
the Insurance Specialist. Call him at (587) 707
7000 to book an appointment.