Disability insurance (workers)
Your ability to work is your greatest asset. If an injury prevents you from working for several months, disability insurance can replace part of your income to protect your family.
Disability insurance pays you a monthly benefit if an illness or accident prevents you from doing your job. It is designed to replace part of your income so you can keep paying essential expenses.
Why is it essential?
- Monthly expenses (housing, food, debts) continue even if you can’t work.
- Public or group benefits can be limited.
- An individual policy lets you adapt the benefit amount and duration to your situation.
Key points to define
- The desired monthly benefit (often a percentage of your gross income).
- The waiting period (time before the first payment).
- The maximum benefit duration (e.g. 2 years, 5 years, up to a certain age).
- The definition of disability (your current occupation or any reasonable occupation).
Example — self-employed nurse (Sophie)
Sophie, 35, self-employed nurse, no group plan: if she cannot work, there is no pay but personal and business expenses (clinic rent, licences, insurance) continue.
Illustrative annual income: $90,000 (~$7,500/month). Insurers often cover 60–70% of gross income.
| Item | Detail |
|---|---|
| Monthly benefit | 5 000 $ |
| Waiting period | 90 days |
| Benefit duration | To age 65 |
| Type | Own occupation |
| Indexing | Optional |
| Estimated premium | $150–$220/month (varies) |
With an “own occupation” definition, if Sophie cannot work as a nurse but could do another job, she may still receive benefits—critical to confirm in the contract.