DISABILITY INSURANCE VAUGHAN
VAUGHAN

To get disability insurance, you should first choose whether you need short-term or long-term coverage, based on your personal and professional situation. Long-term disability covers a longer term, whereas short-term disability is more urgent. You will also ascertain the amount of your monthly wages that will be compensated, which is typically 60-70% of your gross pre-disability income. Additional add-ons which Edward makes you consider are future income protection, partial disability, and cost-of-living adjustments to make sure that your plan fits your specific needs.

As soon as your coverage options are spelled out, Edward will offer you a clear premium quote on a monthly basis, with all costs being transparent. Premiums are calculated based on factors such as age, health status, risks in your occupations and the cover amount of your choice. Edward keeps you completely informed on the costs of your premiums, and there are no hidden charges or additional costs.

The application process involves completing necessary forms, with Edward’s assistance, to ensure everything is in order. Depending on your health and coverage needs, the insurance provider may require a medical evaluation or a health questionnaire. Those in high-risk professions or with higher coverage amounts may need to undergo additional underwriting to assess their eligibility for coverage.

Once a disability occurs, you will move into the waiting period until benefits are started. The average period of this elimination is 30 to 120 days, but this will depend on the particular conditions of your insurance. Disability policies may have shorter waiting periods (sometimes as short as one day) when they are short-term disability policies and longer waiting periods when they are long-term disability policies.

To begin gaining benefits, you will have to file a claim and provide medical evidence, including a doctor’s report and the functional assessment of your condition. Edward will assist with filing claims, ensuring all documents are filed in a coherent manner and submitted appropriately to prevent any delays or issues during the claims processing.

After the waiting period is over, you will start getting monthly payments as a percentage of your pre-disability salary, according to your policy. Such payments are usually tax-free and will assist in covering basic living expenses like rent or mortgage, utilities, groceries and other day-to-day living expenses, leaving your finances intact so you can concentrate on healing.

During the claim period, the insurance company may request periodic updates on your health and work capacity. Edward provides continuous support to ensure that all necessary information is submitted promptly, keeping the claims process smooth and uninterrupted. He also advocates on your behalf to address any challenges that may arise.

Disability benefits tend to last until you are restored to health and ready to work, or until the term of the benefit is terminated (usually at age 65) or when the maximum benefit amount is exhausted on the policy. Edward is in touch with you during this process and helps in modifying or extending any policy that you might need, as your needs change.