DISABILITY INSURANCE ADVISOR
RICHMOND HILL

The initial decision is to choose between short-term and long-term disability coverage depending on your needs. You will determine the percentage of your monthly wages that you wish to replace, usually 60-70 percent of your pre-disability income. Edward will take you through the optional extras, including future income protection, partial disability and cost-of-living to make sure your policy is right to fit your career, lifestyle and finances.

Once your coverage plan is defined, Edward presents a transparent quote detailing your monthly premium costs. Premiums are calculated based on several factors, including your age, health status, occupation risk level, and the amount of coverage you select. Edward ensures you understand all costs upfront with no hidden fees or surprises.

The application process involves completing straightforward paperwork with Edward’s guidance. The insurer might demand medical examinations or questionnaires depending on the amount of your coverage and health status. In hazardous occupations or high coverage limit situations, further underwriting will be required to determine your insurability.

If you experience a disability, you must wait through the elimination period before benefits commence. The waiting period varies between 30 and 120 days, but it depends on the type of policy you have. The short-term versions tend to have short elimination periods, whereas the long-term plans tend to require a longer wait; this is done to control the costs and frequency of claims.

When you are unable to work due to an illness or injury, you will have to file a claim accompanied by medical evidence in the form of doctors’ reports and functional tests. Edward is involved with the claims process and makes sure that everything is ready and in order so that no delays or complications may arise.

Once you have completed the elimination period, you will start getting periodic monthly payments, which are a percentage of your pre-disability pay as indicated in your policy. These tax-free benefits are used to meet critical expenses like mortgage payments, utilities, groceries and other costs of living.

Insurers can ask to be updated on your health status and may also submit a reassessment of your working potential during the claim. Edward will actively support the process until everything finishes smoothly and your benefits are unexceptionally maintained, representing you in the process when needed.

Benefits continue until one of several conditions is met: you recover and return to work, the maximum benefit period ends (often continuing until age 65), or policy limits are reached. Edward provides proactive communication throughout this process, helping you adjust coverage or submit extensions as your circumstances change.