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Disability Income Insurance

Protecting Your Assets in the Event of a Disability

If an accident or illness prevented you from pursuing your occupation—even for just a few months—what financial resources could you rely on to replace your income?

We offer two types of protection to help you meet this eventuality:

1.

Individual Disability Income Insurance

 

Individual disability income insurance is specially designed for workers who do not have a group insurance plan, including:

 

self-employed workers;

small-business owners;

employees, whether or not they are covered by the Workers’ Compensation Act.

 

Disability income insurance provides you with a source of income that replaces your salary during a period of disability resulting from an accident or illness. You receive a monthly amount that meets your needs and allows you to maintain your standard of living.

Momentum Disability Income Insurance, for example, provides you with:

 

disability income insurance in the event of an accident;

monthly benefits of between $500 and $4,000 (up to a maximum of 70% of your monthly income);

benefits for two years or until you reach the age of 60.

 

Momentum also offers additional protection—sickness income insurance, business overhead expenses insurance and hospitalization insurance—and you may choose a waiting period of 0, 30 or 120 days. (The waiting period is the period between the beginning of the disability and the beginning of benefit payment.)

2.

Waiver of Premiums in the Event of Total Disability

You may take out a waiver of premium rider in the event that a
total disability prevents you from continuing to pay your insurance premiums. Your coverage will then remain in effect. There is generally a waiting period of a few months before the coverage begins.

Most Precision Insurance Services Inc's insurance products offer this type of rider. For further information, contact your representative.

Who Should Consider Disability Income Insurance?

Persons who have jobs that do not provide a group insurance plan:

- self-employed workers;
- small-business owners;
- employees, whether or not they are covered by the Workers' Compensation Act.


Features and Advantages of Momentum

Momentum provides you with disability income insurance in the event of an accident.


You receive monthly benefits of between $500 and $4,000 (up to a maximum of 70% of your monthly income).


Your benefits are paid for two years or until you reach the age of 60.


You may choose a waiting period of 0, 30 or 120 days.
The waiting period is the period between the beginning of the disability and the beginning of benefit payments.


Additional protections—disability income insurance in the event of an illness, business overhead expense insurance and hospitalization insurance—are available.

 
 



 
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