Protect the Most Important Asset

Disability Insurance in Barrie, Ontario

Stay financially protected in case of any unforeseen accidents or illnesses

Disability & Critical Illness Insurance in Barrie, Ontario

There are many different types of insurance policies designed to protect one of your most valuable assets: yourself. From life insurance to disability and critical illness insurance, there is the right policy for everyone. Truth be told, some celebrities even choose to protect specific parts of their bodies against injury! Did you know that David Beckham’s legs are insured for $70 million?

At Walton Financial Group Inc., we are dedicated to helping you understand what different insurance types and policies entail, so that you can find the ideal option for you and your family. With personalized advice and objective recommendations, we will help you get peace of mind knowing that you and your family are financially protected in case of an unfortunate event.

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All You Need to Know

What is Disability Insurance?

Disability insurance takes the form of regular monthly payments aimed to replace some of your income in case you are unable to work due to an illness or injury. Disability insurance typically covers 60% to 70% of your income, so that you can maintain a standard of living similar to what you are used to.

  • Have Peace of Mind
  • Plan for the Future
  • Financial Reassurance

Know the Difference

Types of Disability Insurance

Short-term insurance

Short-term disability insurance is typically accessed through an employer-provided plan. Under the policy, you would usually be covered for up to 6 months in case you are injured or sick.

Long-term insurance

While long-term disability insurance is sometimes offered by the employer, the coverage may not be enough. Purchasing individual disability insurance through Walton Financial can help to ensure that you are completely covered in case you become disabled for longer stretches of time.

Government benefits

The Canadian government does offer disability programs like Canada/Quebec Pension Plan or Workers’ Compensation. However, the coverage provided by these programs might not be sufficient for your needs. In fact, buying individual disability insurance is the only certain way to keep yourself fully protected in case you aren’t able to work.

The Right Time

When to Get Disability Insurance

If you are afraid of losing your income due to illness or disability, disability insurance is the right choice for you. Ask yourself whether your family would be able to afford housing, food, and other necessities if you lose your salary. If you are the main provider for your loved ones, we always recommend getting the insurance.

Overview

What is Critical Illness Insurance in Barrie, Ontario?

Critical illness insurance offers a single lump-sum cash payment that you can use as you see fit in case you suffer from one of the serious health conditions outlined by your policy. These critical illnesses can include stroke, heart attack, or cancer.

Critical illness insurance is intended to help offset some of the recovery costs, including medical bills, expensive assistive devices, and even travel expenses.

When to Get Critical Illness Insurance in Barrie, Ontario

If you are concerned about the financial impact that a certain health condition might have on you and your family, you might want to purchase critical illness insurance. However, make sure to review your existing health coverage benefits first. You might already have certain medical costs partially covered, - but critical illness insurance will often offer a much more comprehensive coverage.

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Summary

Disability Insurance vs Critical Illness Insurance in Barrie, Ontario

Both Critical Illness and Disability can be owned and paid for corporately, or personally. Disability insurance is also known as “income replacement insurance,” and it does just that: replaces a portion of your monthly income if you are not able to work due to an illness or injury. Critical illness insurance, on the other hand, provides a lump sum payment if you develop one of the covered health conditions.

While the two types of health insurance have some overlap, they cannot be used as an alternative to another. If you want to have the most comprehensive coverage possible, you would need to get both disability insurance and critical illness insurance. Luckily, our insurance professionals from Walton Financial can help you cover all bases and learn about the return of premium options. This means that some carriers will pay a portion of your premiums back, or all of your premiums back if you do not have a claim.

EXPLORE YOUR OPTIONS ⟶

Have Questions?

Get Advice on the Right Disability Insurance For You

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