Disability insurance helps protect your income if you can’t work due to illness or injury.

What is Short-Term and Long-Term Disability Insurance?

Short-term disability insurance covers you for a few weeks or months, replacing part of your income while you recover.

Long-term disability insurance, however, is for more serious conditions. It provides income for longer periods, sometimes even for years. This coverage kicks in when short-term benefits end and can keep you financially secure for as long as your disability lasts.

Together, these options are part of disability income insurance, which ensures you have money coming in when you can’t work.

Why Do You Need Disability Income Insurance?

Life can be unpredictable. An unexpected injury or illness could leave you unable to earn money. Disability income insurance helps keep your finances stable during these times.

For short-term recovery, short-term disability ensures your bills are paid while you’re unable to work. If your condition lasts longer, long-term disability can provide the income you need for months or even years, depending on your plan.

Real-World Example

Imagine a graphic designer in Toronto who injures their hand. Short-term disability insurance helps them cover living costs during the first three months of recovery. If their condition worsens, long-term disability insurance takes over, allowing them to focus on recovery without worrying about money. This type of coverage provides peace of mind when it’s needed most.

How Does Short-Term and Long-Term Disability Insurance Work?

Short-term disability usually covers you for up to six months. It starts soon after your disability begins, replacing part of your income.

When short-term benefits end, long-term disability starts. This coverage usually provides 60-70% of your income for an extended time—sometimes even until retirement. The goal of disability income insurance is to make sure you stay financially stable when you can’t earn money.

Why Choose Ferrari & Associates?

At Ferrari & Associates, we specialize in helping clients across Toronto and the Greater Toronto Area find the right disability income insurance coverage. Whether you need short-term disability insurance for a temporary condition or long-term disability insurance to protect your income for an extended period, our team of experts is here to guide you. We take pride in offering customized plans that fit your lifestyle, needs, and budget.

Get the Right Protection Today

Prepare for the unexpected by securing the right disability income insurance today. Contact Ferrari & Associates to speak with one of our knowledgeable brokers and find the perfect mix of short-term disability insurance and long-term disability insurance to ensure peace of mind and financial stability.

*The information provided on this page is for information purposes only and should not be taken as insurance advice. For actual insurance advice, please contact Ferrari & Associates at 1-888-467-8989