Disability insurance andcritical illness insurance
At Villeneuve Wealth Management, as a professional in insurance, we offer you solutions adapted to your needs. Thanks to our knowledge in the financial field as well as our expertise, we provide you with informed and personalized advice in order to provide you with the insurance that suits you.
Have you ever thought about taking out disability insurance or critical illness insurance to protect yourself and your family in case of health problem? Do you know what distinguishes these two types of insurance? We can answer your questions.
Disability insurance is a type of insurance that provides financial protection to workers who are unable to perform their job due to a significant injury or illness. Thanks to this coverage, if you are unable to work, you receive monthly compensation to replace your salary and cover some of your health expenses. You can add different riders, such as cost of living, to disability insurance to personalize it according to your needs. In certain cases, a waiting period, determined in the contract, may apply between the date of the start of the disability and the date of the start of payment of the monthly compensation paid.
There are two types of disability insurance that can be accumulated: short-term disability insurance and long-term disability insurance.
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Short-term disability insurance offers you protection in the event of injury or illness preventing you from working for a maximum period of 6 months.
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Long-term disability insurance provides you with comprehensive coverage throughout the period you are unable to work.
Are you wondering what your disability insurance needs are? You can complete this form to obtain an estimate of the monthly amount required in the event of disability. Always use a monthly basis for calculations. Contact us for a more complete analysis of your needs.
Critical illness insurance provides you with financial protection in the form of a one-off payment if you are diagnosed with a significant illness to help you cover the often high financial costs associated with your treatment, such as medical bills, medications, treatments, home care, home modifications, etc. The illnesses covered by critical illness insurance can vary from one insurance policy to another, but generally include severe illnesses such as cancer, stroke, Alzheimer’s disease, Parkinson’s disease, multiple sclerosis, kidney failure, myocardial infarction and others. Critical illness insurance can be taken out in addition to disability insurance, as it is designed to provide additional financial protection in the event of severe health problems.
At Villeneuve Wealth Management, we will be happy to meet you to talk in more detail about these types of insurance, and also offer insurance products specially designed for self-employed workers.
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