Income Protection Insurance
Income Protection Insurance
Protect your most valuable asset — your income.
Your ability to earn an income is your most valuable financial asset. Income protection insurance ensures your family stays financially stable if illness or injury takes you out of work.
Understanding Income Protection Insurance
Income protection insurance — also called disability insurance — replaces a portion of your income if you become unable to work due to illness or injury. Unlike life insurance, which pays a benefit when you die, income protection pays you a monthly benefit while you're alive but unable to work. This keeps your mortgage paid, your bills covered, and your family's lifestyle intact during a difficult time. It's often called the most overlooked form of insurance — and one of the most important.
Is This Right for You?
- Self-employed individuals and business owners with no employer disability benefits
- Breadwinners whose family depends on their income to cover essential expenses
- Professionals in physically demanding or high-risk occupations
- Anyone whose employer-provided disability coverage is insufficient
- People with significant financial obligations (mortgage, student loans, business debt)
- High-income earners who want to protect their lifestyle and savings rate
Why Choose Income Protection Insurance
Monthly Income Replacement
Receive a monthly benefit (typically 60–70% of your income) if you can't work due to disability.
Covers Both Illness & Injury
Protection applies whether you're disabled due to an accident, illness, or chronic condition.
Own-Occupation Coverage
The strongest policies pay if you can't perform your specific occupation — not just any job.
Long-Term Protection
Benefits can last until age 65 or longer, protecting you through your entire working career.
Non-Cancelable Options
Some policies cannot be canceled or have premiums raised as long as you pay on time.
Riders for Enhanced Coverage
Add riders for cost-of-living adjustments, future purchase options, and return-to-work benefits.
How It Works
Assess Your Needs
We calculate your monthly income replacement need based on your expenses and existing coverage.
Choose Your Policy
Select your benefit amount, elimination period (waiting period), and benefit duration.
Apply & Qualify
Complete a health and financial application. Underwriting reviews your occupation and health.
File a Claim if Needed
If you become disabled, file a claim. After the elimination period, monthly benefits begin.
Frequently Asked Questions
The elimination period is the waiting period between when you become disabled and when benefits start — typically 30, 60, 90, or 180 days. A longer elimination period lowers your premium. We recommend matching it to how long your emergency fund would last.
Most policies replace 60–70% of your pre-disability income. This is typically enough to cover essential expenses while accounting for the fact that disability benefits are often tax-free.
Many employers offer short-term and/or long-term disability coverage, but it's often insufficient — typically replacing only 60% of income up to a cap, and it ends if you leave the job. Individual policies are portable and can fill the gap.
Short-term disability covers you for a few weeks to a year. Long-term disability kicks in after short-term ends and can cover you for years or until retirement age. Both are important components of a complete income protection strategy.
Absolutely — and it's especially critical for self-employed individuals who have no employer safety net. We specialize in finding the right coverage for business owners and independent contractors.
Ready to Get Covered?
Get a free, no-obligation quote in minutes. A licensed advisor will walk you through your options and help you find the right fit.