What exactly is Income Protection Insurance?

This insurance is designed to replace a portion of your lost income. If you are temporarily unable to work due to illness or an accident, you will receive a direct weekly cash benefit.

Who is eligible for this insurance?

All employed individuals, self-employed workers, seasonal workers, and even part-time workers between the ages of 18 and 69 can qualify for coverage.

How are the benefits paid?

Weekly benefits ranging from $75 to $600—depending on the selected plan—are paid directly to the policyholder’s account. These funds can be used for any expense, including rent, bills, groceries, or medical costs.

What is the maximum benefit period?

Benefits are payable for up to six months for each illness or accident. If a new condition occurs or the illness returns, benefits can be paid again.

Is hospitalization required?

No. Hospitalization is not required. Payments begin as soon as a temporary total disability is confirmed, even if no hospital stay is involved.

Is this insurance a substitute for permanent disability insurance?

No. This insurance is designed only for temporary disabilities. In the case of a permanent condition, a dedicated long-term Disability plan is required instead.

What documents are required to receive more than $300 per week?

In this case, proof of income—such as a T4 or bank statements—is required.

What is not covered under this insurance?

Permanent disabilities, mental health conditions, elective treatments (such as cosmetic surgery), injuries resulting from illegal activities, substance or alcohol use, and high-risk occupations when work conditions are not fully disclosed.

Why is having this insurance important?

Because many individuals—especially those without workplace insurance or those whose income depends directly on daily work—face an immediate loss of income when illness or an accident occurs. Income Protection Insurance provides a temporary and reliable financial source during such situations.

Income Protection Insurance

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Income Protection Insurance

Income protection means having peace of mind knowing your finances are secure even when you’re unable to work.

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Income Protection Insurance

Income protection insurance is designed to replace a portion of your lost income during periods when you are temporarily and completely unable to work due to illness or accident. It serves as an alternative financial source, helping reduce economic stress and allowing you to focus on recovery without worry.

Coverage and Payment Details:

Weekly payments ranging from $75 to $600, depending on the plan and individual circumstances
Coverage begins from the first day of total disability caused by illness or accident
Maximum benefit period: up to 6 months for each illness or injury
Ability to reapply for benefits in case of new or recurring conditions
Payments are made directly in cash, with no restrictions on how the money is used — whether for rent, bills, groceries, medical expenses, or other daily needs

Eligibility Requirements:

Suitable for employed, self-employed, seasonal, or part-time workers
Eligible age range: 18 to 69 years
For weekly benefits exceeding $300, proof of income (such as a T4 or bank statement) is required
Coverage can be obtained with only a few simple medical questions

Covered Scenarios:

Temporary disability caused by treatable illnesses such as infections, severe flu, digestive issues, or chronic pain
Total disability resulting from unexpected accidents such as vehicle collisions, falls, muscle injuries, or fractures
Coverage activates without the need for hospitalization

Key Benefits and Features:

Fast payments with no complex administrative process
Can be combined with other plans, such as Disability or Critical Illness Insurance, for more comprehensive protection
Flexible and suitable for a wide range of individuals — from seasonal workers and drivers to freelancers or part-time employees
A valuable option for those without employer-provided insurance or whose income depends directly on daily work activity