Long-term disability insurance replaces your income if you can’t work in your occupation due to an injury or illness. But while many people understand the importance of it in protecting their financial plan, many neglect it because of its cost.

But did you know there is a way to lower your initial cost? Besides level premiums, for which premiums remain constant throughout the lifetime of the disability policy, there are also graded premiums.

In this post, we pit graded vs level premiums to see which one comes out on top. Then you can decide which one is suited for you.

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Long-term disability insurance protects your income by paying you a monthly benefit while you can’t work due to an accident or illness. Many factors affect your premiums, including age, gender, occupation, and benefit amount. A good disability insurance policy usually costs 2-3% of your annual income.

But did you know that you can get back the money you paid for the coverage? With return of premium disability insurance, you receive part of the premiums back if you don’t claim benefits.

Read on to find out how return of premium disability insurance works and whether it’s worth it.

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Group long-term disability insurance is the most common way for companies to provide income replacement coverage for employees. It pays a monthly benefit if an employee can’t work due to an injury or illness.

But did you know there are many shortfalls with these types of plans? For example, higher earning staff may not be adequately compensated because of low benefit amounts. Premiums can also increase if there are lots of claims.

For these reasons, employers that want better disability coverage for their high-income earners and executives have to look elsewhere. And the most suitable option is a wage loss replacement plan (WLRP). This post explains how these plans work and the advantages for employers and employees.

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The success of a small business depends largely on the productivity of its owners. If one of the owners in a partnership becomes disabled, the company will suffer financially.

That’s why small businesses should have a buy-sell agreement that details what happens to the shares of the disabled partner. Who will purchase their shares? How will the shares be valued?

Perhaps most importantly, where will the funding come from? A buy-sell disability policy is the crucial piece that completes the buy-sell agreement. Learn more about how it works and why you need it to protect your business.

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Any successful business owner will tell you that its key employees are the company’s backbone. If they suffered a disability, there would be a severe financial impact on the business. It may not even be able to survive over the long term. That’s what makes them the key people in a company.

If your business is dependent on one or more key people, you need to protect it with key person disability insurance.

Learn more about how key person insurance works and how it can ensure the survival of your business in the event of the disability of a key employee.

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Although long-term disability insurance has been around for a long time, many misconceptions still exist. People don’t understand how it works or why they need it. As a result, they have a hard time separating the facts from fiction and end up believing disability insurance myths.

Before getting disability insurance, learn about the facts that dispel these 15 disability myths.

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Did you know that more than one billion people worldwide live with a disability? Even in a developed country like Canada, disability prevalence is more common than you may realize.

We gathered 13 shocking disability statistics that highlight the prevalence of disability and the financial impact of a disability.

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The government of Canada provides millions of Canadians with disability coverage. But did you know that these programs have glaring deficiencies that prevent them from fully protecting your income?

In this post, we explain why you can’t solely rely on government-sponsored disability insurance. We’ll also show you how a private long-term disability policy gives you the best income protection.

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Being an employee has many perks—overtime, bonus, vacation pay. One of the most valuable perks is an employer-sponsored group benefits package. That’s because it often contains long and short-term disability insurance coverage.

But did you know that disability income insurance from your group plan can’t fully protect your income?

In this post, we explain the shortcomings of group long-term disability insurance. We’ll also share how you can supplement group disability insurance with individual coverage for the best protection.

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Having long-term disability insurance (LTD) is vital to the breadwinner of your family. It protects your income if you can’t work due to an injury or illness. But did you know that not all disabilities are covered?

In this post, we explain policy exclusions, limitations, and conditions that may affect your disability claim.

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