Disability Insurance

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Disability Insurance

There are really only two ways to earn income ― either you're working, or your money is working for you.

But what if you had to stop working before your planned retirement age? Who would pay the bills then? That's where disability insurance, often called "DI," comes into play.

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What is DI for?

Simply put, DI coverage insures your ability to earn money.

It guarantees that your family's lifestyle will not suffer if you become sick and unable to work for a period of time. It provides a regular monthly income to pay the bills when you're not on the job.

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How much does DI pay?

Disability insurance is calculated as a percentage of your current salary, and usually offers coverage equal to about two-thirds of your earned income. If you bring home $5,000 a month when you're healthy, DI would pay about $3,300 a month if you were unable to work.

The good news is that while your paycheque is subject to income taxes, that $3,300 cheque is tax free provided you pay the premiums yourself!

Read our April 2015 newsletter For more information.

Would you be interested in obtaining a no-obligation quote to see if an individual disability insurance policy suits your circumstances?
Call Andy at 780-425-4058,

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