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The Financial Impact of a Disability

Many Canadians have misconceptions when it comes to disability. As a result, most working adults aren’t financially prepared for an illness or injury. Here, we shed some light on the most common misconceptions—and what you can do to protect yourself.

The Most Common Forms May Surprise You

“I can live off my savings.”

The average length of a disability over 90 days is 35 months, which means replacing your salary for approximately 3 years. Even if you missed work for only 1 year and you earn $50,000, you’d have to save 10% of your earnings for 10 years to replace your lost income. Given this, would you have enough money saved to cover living expenses and health care bills throughout a disability?

Unfortunately, many Canadians find out after the fact that their employer-sponsored coverage barely covers the essentials—adding to existing stress and creating more hardships. In many instances, those who have been injured or ill rush themselves back to work because they can’t afford to take the time to fully recover—which may compound the effects of the disability and create further damage to their health.

Disability coverage is more affordable than you might think.

While many Canadians believe they can’t afford to purchase disability coverage, it’s actually less expensive than most would expect. In fact, it generally costs between 1% and 3% of your income.


Did You Know?Did You Know?

  • An average 30-year old Canadian has over 3 million dollars of income at risk due to disability
  • 72% of Canadians would face serious financial implications if they couldn’t work
  • 43% of families indicated that they do not have disability insurance coverage through their workplace benefits package

See What’s at StakeSee What’s at Stake

Take a moment to calculate your disability risk and how much income you may have at stake.


Take ActionTake Action

Protect your most valuable asset—your ability to earn an income.