Life Care Insurance

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Disability Insurance Guide

Our most important asset is our health and our ability to work is contributing towards meeting expenses for life. Disability due to Injury or Sickness can directly and severely impact our ability to work thus hampering business or job resulting in loss of income or business revenue. We can never anticipate injury or sickness but we can certainly take actions to reduce or mitigate the losses originating from injury or sickness.

Disability insurance or Pay cheque or Business disability insurance is the right tool to protect ourselves against unforeseen.

If you are one of these and want to protect your lifestyle in an event of injury or sickness then talk to us. Our simple disability calculator will help you to assess your needs.

  • Professionals
  • Independent self-employed workers
  • Business owners
  • Employees with or without group insurance

Disability Insurance has following features:

Eligibility requirements

First and foremost thing to check is in what category your occupation falls.

Do you Belong to an occupation class other than “X” and work at least:

  • 30 hours a week and
    • Be employed at least 40 weeks a year OR
    • Be employed between 35 to 39 weeks (minimum waiting period of 60 days)
  • 24 to 29 hours per week during 40 weeks per year (minimum waiting period of 90 days)

Occupation class

Insurance companies have created occupation classes based on the jobs you do. Risk is assessed based on nature and type of work/job.

Issue ages (age to the nearest birthday)

  • 18 to 60

Waiting period

Waiting period means how many days you have to wait before the benefit starts. You can buy policy without any waiting period which means o day. In this case due to injury or sickness if a person can not work insurance company pays the claim from day one. Higher the waiting period; cheaper the premiums.

  • 30 days
  • 30+ days
  • 60 days
  • 90 days
  • 90+ days
  • 120 days
  • 365 days
  • 730 days

Certain companies, for example for waiting periods of 90 days or less, pays the monthly benefit from first day in the event of hospitalization or day surgery

The “+” sign indicates the monthly amount is payable as of the first day in the event of an accident.

Benefit period

  • 2 years, 5 years, Up to age 65

The benefit period is always a minimum of 2 years, even if the contract ends at age 65.

Look for definitions written in the contract, For example, if the insured is totally disabled at age 64, he will be receiving a monthly amount during 2 years and therefore, until age 66 even though the contract ends at age 65.

Monthly amount

  • Minimum: $400
  • Maximum: $15000

Premium structure

  • Term 65: Level up to age 65
  • Term 10: Level for 10 years

Special Note: The premium structure may be changed from T10 to T65 without any medical or financial proof.

End of coverage

The coverage will terminate when the first of the following events occurs:

  • Death of the client
  • Policy anniversary nearest to age 65
  • Policy lapse
  • Client’s retirement date

Special Note: Certain companies and products pay benefits till death in case of Graded sickness and a person Long term care due to injury or death.


  • Guaranteed renewable up to age 65
  • Continuation of coverage after age 65

Total disability definition

  • Regular occupation 24 months

Recurrent disability

Check the individual policy contract for definitions like:

  • 12 months – occupation class 3A and 4A
  • 6 months – occupation class B, A, 2A

Built-in benefits

  • Payable amount at death
  • Eligibility to receive monthly amounts as of the first day of hospitalization or day surgery
  • Organ donation after 6 months
  • Presumptive total disability
  • Rehabilitation
  • Waiver of premiums
  • Recurrent disability
  • Complimentary assistance services for your clients and their loved ones, available at any time online or by phone, including:
    • A health and well-being platform with reliable resources to make informed decisions
    • 24/7 phone assistance services
    • Direct consultation with a doctor to answer their questions and connect with world-renowned specialists to confirm a diagnosis and determine an optimal treatment plan (by Advance Medical).

The assistance services may or may not a contractual obligation of Insurance Company.

Additional coverage

  • Cost of living
  • Partial disability
  • Residual disability
  • Return of premiums
  • Future insurability option
  • Regular occupation period extension