Disability insurance in Brampton may not be for everyone, but everyone should at least consider it. Disability insurance provides a guaranteed monthly payout for policyholders who are unable to work due to covered accidents or illnesses. If someone is facing months or years without employment, it can be a true lifesaver for paying for bills, housing, food, and all the other essentials of life.
Is disability insurance worth the cost? It may be for those at particularly high risk. Here are just a few situations where you should consider a policy.
Five Situations Where Disability Insurance in Brampton Makes Sense
You have a dangerous job
The more dangerous your job, the more you want a disability insurance policy. While your workplace may provide some coverage, particularly for extremely hazardous work, disability insurance could be what allows you to get back on your feet if or when an accident occurs.
You have a family history of debilitating illnesses
Do people in your family have a history of medical conditions such as strokes or early-onset dementia, which could impact your ability to earn an income? This would be an excellent reason to consider a disability insurance policy in case the same thing happens to you.
Your family relies on your income
Remember: a disability doesn’t only affect you; it also affects everyone around you. If your family mostly or entirely relies on you to provide for them, disability insurance could support more people than just yourself. At the least, it would provide financial support until more family members became able to work.
You have large amounts of debt, particularly a mortgage
Loss of income doesn’t only challenge your ability to put food on the table, it could potentially also take away your car, your home, or other possessions through seizure. If you would be in danger of losing your home if you couldn’t pay the bills, disability insurance is excellent protection.
You lack emergency savings
Just ask yourself: if you were suddenly unable to work, how long would your savings last? Months? Weeks? Days? At least a third of Canadians don’t have substantial savings at all and would be bankrupt in very short order. Disability insurance provides the protection your own bank account cannot.
Desjardins Insurance offers top-quality disability insurance in Brampton, with a wide range of plans and coverage to fit any budget. Don’t leave your financial security to chance – contact us for a quote.