PARTNERS
For families
When illness interrupts an income, the bills continue. A partner may reduce their own work to help. Savings meant for retirement or the children’s plans start to pay for recovery instead.
Living benefits are insurance that pays while you are alive: a lump sum on a serious diagnosis, a monthly income if you cannot work, or help with the cost of care.
The short answer
Living benefits are insurance that pays while you are alive. Critical illness insurance pays a lump sum on a covered diagnosis. Disability insurance replaces part of your income if you cannot work. Long-term care insurance helps pay for care if you can no longer manage daily activities on your own. Each solves a different problem, so the right mix depends on your income, savings and family.
44%
of Canadians are expected to develop cancer in their lifetime, according to Statistics Canada.
A household that is short $4,000 a month with $24,000 of accessible savings has about six months before something has to give. That simple calculation reveals a gap a net-worth statement hides.
Critical illness insurance. Pays a one-time lump sum if you are diagnosed with a covered condition and meet the policy’s terms, whether or not you can work. Families use it for treatment, help at home or time off.
Disability insurance. Pays a monthly benefit while illness or injury prevents you from working. Benefits from a policy you pay for personally are generally tax-free.
Long-term care insurance. Helps pay for care at home or in a residence if you can no longer manage everyday activities on your own, protecting savings intended for a spouse or children.
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A relaxed conversation about your family, what you own and what you want to protect. No forms and no product discussion.
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We calculate your household’s monthly needs and what existing coverage would pay.
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We show where the shortfall appears and how long your savings would last.
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We compare coverage across major Canadian insurers and explain the trade-offs.
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We revisit the coverage when your income, family or health circumstances change.
Critical illness insurance pays a lump sum on a covered diagnosis. Disability insurance pays a monthly income while you cannot work. One does not replace the other.
Often not on its own. Check the monthly benefit, the waiting period, how long it pays, the definition of disability and whether benefits are taxable, then compare the after-tax amount with your actual monthly costs.
Usually in your 40s to 60s, while you are more likely to qualify and premiums are lower, especially if you want to protect savings intended for a spouse or children.
Book a free 30-minute call to see how long your family could keep its plans if an income stopped. No obligation.
General educational information. Legal, tax and insurance decisions require advice appropriate to your circumstances.
Eagle Wealth Partners
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Serving families and business owners across Ontario. Markham, in person and online.
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Sami Majdalani is a licensed life and accident and sickness insurance agent in Ontario. Verify my licence on FSRA’s website. Insurance and segregated fund contracts are placed through HUB Financial, a managing general agency. Eagle Wealth Partners is paid by commission from the insurers whose products clients buy, and may also receive bonuses or other incentives from insurers. A full disclosure of the insurers we represent, how we are paid and any conflicts of interest is available on request.
Segregated fund contracts are individual variable insurance contracts issued by insurance companies. Any amount allocated to a segregated fund is invested at the risk of the contract holder and may increase or decrease in value.
Information on this site is general and is not legal, tax or insurance advice for your situation. Planning is implemented with your legal and tax professionals. © 2026 Eagle Wealth Partners Inc.
