Humania Disability Insurance Review

Table of contents

Did you know that the average length of a disability over 90 days is 5.75 years? Could you cover your day-to-day expenses if you can’t work? That is unlikely unless you have disability insurance.

A long-term disability insurance policy works when you can’t. If an accident or sickness prevents you from working, disability insurance can provide a monthly benefit to help pay for your living expenses.

But with so many insurance companies, how do you know which policy is right for you? In this post, we review the disability insurance policies offered by Humania Assurance and tell you they stack up against the competition.

Humania-Disability-Insurance-Review-laptop-screen

About Humania Assurance

Founded in 1874, Humania Assurance is one of the oldest insurance companies in Canada. Originally called L’Union Saint-Joseph de Saint-Hyacinthe, the company went through numerous name and structural changes to become a mutual insurance company, which is owned entirely by its policyholders.

Humania Assurance offers many insurance solutions for Canadians, including life insurance, critical illness insurance, health insurance, and disability insurance. One of its standout products is insurance without medical exam, where you can instantly get coverage by answering only six eligibility questions.

Although it costs more than an underwritten policy, insurance without medical exam allows people who have been declined insurance another chance to get life, disability, and critical illness insurance coverage.

Key facts about Humania Assurance

What Disability Insurance Plans Does Humania Insurance Offer?

Humania Assurance offers many disability policies that cover injuries and illnesses. Here is a brief description of each and their pros and cons.

Prohealth Income Insurance - Accident & Sickness

As an income insurance product, this aims to replace your income if you become disabled due to an injury or illness. The monthly payments will help cover your bills, rent or mortgage, groceries, and medical expenses to relieve the financial stress of a disability.

Whether you’re self-employed, an incorporated small business owner, or don’t have disability insurance through your employer, an income replacement disability policy is what you need to protect your income-earning ability.

Prohealth Income Insurance - Accident

If you were declined accident and sickness insurance because of a medical condition, you could still get accident-only coverage.

Prohealth Payment Insurance - Accident & Sickness

Unlike the previous two products that pay a benefit proportional to your income, this one covers your expenses. As a reimbursement disability insurance policy, the monthly benefit you receive must be used to pay for recurring expenses like utilities, phone, internet, childcare expenses, mortgage, car loans, etc.

Insurance Without Medical Exam - Income Insurance

Declined for disability insurance? You can still get disability insurance through the Insurance Without Medical Exam product. Whether your work is precarious, you travel to dangerous areas, have had financial troubles, or have medical issues, Humania Assurance makes it easy for you to get coverage.

Insurance Without Medical Exam - Debt Insurance

Like the Income Insurance option above, debt insurance is also designed for people who have trouble obtaining traditional disability insurance coverage. However, you would use debt insurance to cover your debts instead of replacing your income. This means you need to have debt for the policy to pay a benefit.

ASSURE-DEBT

As another debt insurance product, ASSURE-DEBT reimburses you for your debt payments if you become disabled in your occupation due to an injury or illness.

Here is a table comparing the products side by side:

Prohealth – Income Insurance – Accident and Sickness
Prohealth – Income Insurance – Accident
Prohealth – Payment Insurance – Accident and Sickness
Insurance Without Medical Exam – Income Insurance
Insurance Without Medical Exam – Debt Insurance
ASSURE-DEBT
Target market
Accessible coverage for employed and unemployed individuals
Accident coverage for all types of risks, including traditional workers, seasonal workers, unemployed, students, hard to insure, and those with a limited budget
Accident and sickness coverage that reimburses your debt payments and business overhead expenses upon a disability.
People who need income replacement insurance and have been declined disability insurance for medical or other issues
People who need debt insurance and have been declined disability insurance for medical or other issues
An alternative to creditor insurance that covers your debts with a flexible range of options
Covers
Injury or illness
Accidents and soft tissue injuries
Injury or illness
Definition of disability
Regular occupation for three years (can be extended to the entire benefit period)
Regular occupation for three years
Regular occupation for three years (can be extended to the entire benefit period)
Regular occupation for 24 months
Regular occupation for 24 months (can be extended to the entire benefit period)
Age eligibility
18-64
18-69
18-64
18-55
18-59
Occupation classes
Unlisted
None
4A, 3A, 2A, 1A, B, C
Occupation class upgrades
No, although there is a discount for employment stability
No
Yes
Waiting period
14, 30, 90, or 120 days
1, 14, 30, 90, or 120 days
30, 60, or 90 days
90 days
30, 60, or 90 days
Benefit period
Two, five years, to age 65
Two, five years, to age 70
One, two, three, five years, to age 65
24 months
12 or 24 months
Two, five years, to age 65
Minimum coverage
$500
$400
Maximum coverage
$6,000
$10,000
$2,500
$2,000
Medical exam required
Yes, above a certain age and amount
No
Yes, above a certain age and amount
No
Premium guarantee
Guaranteed for the first five years, can increase after that
Increases every 10 or 20 years as chosen at policy issue
Not guaranteed
Expiry
Age 100
Age 65
Riders
Accidental death and dismemberment, premium refund
Partial disability, premium refund, additional insurance option, regular occupation
Premium refund
Life insurance, guaranteed insurability, partial disability, premium refund, retroactive benefit, occupational HIV
Got a question about insurance?
Call us at 604-928-1628 or send us an email at info@briansoinsurance.com. We'll be happy to help!

How Much Does Humania Disability Insurance Cost?

The cost of disability insurance depends on many personal factors, including age, gender, smoking status, and occupation. In addition, the plan design of the coverage also affects the cost. For example, a higher benefit amount will cost more than a lower benefit, while a shorter waiting period will also cost more than a longer one.

Therefore, comparing disability insurance premiums can be challenging. We will use a sample insured person to give you a general sense of how much it costs. This person works in a low-risk occupation like an engineer and will buy $5,000/month in benefits with a 90-day waiting period and an age 65 benefit period. Below is a table showing how much Prohealth Income Insurance covering accidents and sickness will cost for this person.

Age
Male
Female
25
$69
$88
30
$87
$108
35
$109
$132
40
$149
$176
45
$204
$234
50
$258
$293
55
$327
$367

Verdict: Our Humania Disability Insurance Review

Should you buy disability insurance from Humania Assurance? It depends on your needs. Because Humania Assurance offers many options for disability insurance, there is a suitable product for almost everybody. Self-employed or don’t have coverage through your employer? Prohealth Income Insurance is right for you. Declined due to a medical condition? Consider Insurance Without Medical Exam.

Below, we list some pros and cons of Humania Assurance disability insurance to help you decide whether you should get a policy.

How Do You Sign Up For Humania Disability Insurance?

Although Humania Assurance does not let you buy disability insurance directly from them, you can do an online application through an insurance agent. While this can be less convenient than going direct, the online application shouldn’t take more than 30 minutes. Besides, an insurance advisor can assess your financial and personal situation to determine the best coverage for you.

After you complete the online application, an underwriter will review your medical history, health, lifestyle, and finances to determine if you are eligible for coverage. If you are getting one of the Prohealth products, you may need a medical exam. However, you can bypass this step if you opt for one of the Insurance Without Medical Exam products.

The entire process can take a few weeks to over a month for a Prohealth policy, while you can be protected immediately with an Insurance Without Medical Exam policy.

Compare the market, get the best price
Use our life insurance quotation tool to instantly compare dozens of insurance companies in Canada and save up to 40% on your rates.

Need A Humania Disability Insurance Quote?

Whether it’s due to an accident or sickness, a long-term disability can strike at any time. In fact, a disability is more common than you think, with the odds being one in three that you’ll be disabled for 90 days or longer before age 65.

A disability policy is one way to protect against this risk. But should you get one from Humania Assurance? We will help analyze your needs and design a disability policy that works for you, whether with Humania or another insurance company.

Don’t let another day go by without protection against the risk of a disability. Contact us today at info@briansoinsurance.com or 604-928-1628 for a free consultation and quote.

Get Your Disability Insurance Quote Now

While we make every effort to keep our site updated, please be aware that timely information on this page, such as quote estimates, or pertinent details about companies, may only be accurate as of its last edit day. Brian So Insurance and its representatives do not give legal or tax advice. Please consult your own legal or tax adviser. This post is a brief summary for indicative purposes only. It does not include all terms, conditions, limitations, exclusions, and other provisions of the policies described, some of which may be material to the policy selection. Please refer to the actual policy documents for complete details which can be provided upon request. In case of any discrepancy, the language in the actual policy documents will prevail. A.M. Best financial strength ratings displayed are not a warranty of a company’s financial strength and ability to meet its obligations to policyholders.

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