What is Disability insurance?

Glossary - Letter - DDisability insurance replaces part of your income if you become disabled (as described in the policy) and unable to earn income. Payments end when the benefit term ends or when you are able to earn income once again. Disability insurance can be short (weeks-months) or long (months-years). Several different types of coverage exist, as detailed below:


·        Individual disability insurance

·        Group disability insurance

·        Mortgage disability insurance

·        WSIB (Workplace Safety and Insurance Board)

·        EI sickness benefits (Employment Insurance)

·        Canada Pension Plan disability protection / Quebec Pension Plan (QPP) disability protection

·        Provincial disability plans (such as e.g. ODSP – Ontario Disability Support Program)