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Corporate and Personal Living Benefit Coverage

Corporate and personal living benefit coverage refers to insurance policies that provide financial support and protection, there are 3 common types of living benefit insurance policies:

  1. Disability Insurance.
  • 1 in 3 people, on average, will be disabled for 90 days or more at least once before they reach age 65?
  • A disability can last for months or even years.

2. Critical Illness Insurance

  • one in 2.2 men and one in 2.4 women living in Canada will develop cancer during their lifetime.
  • 63 percent of Canadians diagnosed with cancer are expected to survive.

3. Long Term Care Insurance

  • Your chances of living to 100 years old are better than ever?
  • 67% of Canadians have no plan to cover the ongoing costs of long-term care?

These policies are designed to help individuals and businesses mitigate the financial impact of lost income and medical expenses during times of illness or disability.

Living benefit coverage typically includes benefits such as income replacement, medical expense coverage, and rehabilitation services to support individuals in their recovery and maintain their quality of life.

These policies can be purchased by individuals for personal coverage or offered by employers as part of employee benefit packages.

The coverage can provide a safety net for individuals and businesses, ensuring that they are financially supported during challenging times and can maintain their standard of living.