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Disability Insurance: Is it really that important?

2 possible cases

1- If you work for a company full-time

You are generally eligible for employment insurance. Moreover, your group insurance usually includes disability coverage. But be careful: some group insurance plans, particularly for SMEs, pay disability benefits only after employment insurance benefits have been paid (maximum 15 weeks) and for 2 years only. After this period, you may end up with no income!

2- If you are self-employed

You are not eligible for employment insurance and don’t have access to group insurance. Disability insurance enables you to meet your financial obligations without jeopardizing your financial situation. Falling ill or being the victim of an accident that would prevent you from working, even if only for a few days, could be catastrophic if you haven’t taken the necessary precautions to make up for a potential loss of income.

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