Disability Insurance

Protect Your Income. Preserve Your Lifestyle.

Your ability to earn an income is one of your greatest assets. Disability insurance protects that income if injury or illness stops you from working—so you can keep moving forward without financial disruption.

Whether you’re an employee, entrepreneur, or business owner, we’ll help you stay protected with a plan that works for your career, your pace, and your goals.

Why it matters

Disabilities are more common—and longer-lasting—than most people think.

1 in 5 Canadians will become disabled for 90 days or more before age 65

The average disability claim lasts over 5 years if it exceeds 90 days

Most long-term disability claims are tied to mental health conditions, cancer, and musculoskeletal injuries like back pain, fractures, and joint issues.

During that time, your expenses won’t pause—and recovery can come with unexpected costs. Disability insurance helps bridge the gap with monthly income that keeps your lifestyle and goals on track.

What is disability Insurance & How Does it Work?

Disability insurance pays you a monthly, tax-free benefit when you’re unable to work due to a covered condition. The amount and length of coverage depend on the plan you choose—but all of them are designed to help you:

Replace lost income

Pay household or business bills

Protect long-term savings

Reduce financial stress while recovering

Types of Coverage

Personal Disability Insurance

For individuals who want to protect their personal income and day-to-day lifestyle.

Monthly income replacement

Covers short- and long-term disability

Optional riders include partial/residual disability, return of premium, and more

Customizable waiting periods and benefit durations

Overhead Expense Coverage

For business owners who need to keep the doors open—even if they can’t work.

Reimburses eligible business expenses like rent, salaries, utilities, and equipment leases

Helps preserve operations and avoid disruptions

Return-of-premium option available if no claim is made

Buy/Sell Disability Coverage

Ensures your business agreement stays intact if a partner becomes disabled.

Pays a lump sum or monthly benefit to help fund a buyout

Protects ownership, valuation, and succession planning

Wage Loss Replacement Plans

A tax-efficient solution for business owners covering employees.

Premiums are tax-deductible for the employer

Benefits are paid directly to the employee

Plans are customizable by role or category

Strong recruitment and retention strategy

Disability Insurance:

Myth vs. Reality

Even high-performing professionals often misunderstand how disability insurance works—or why it’s needed. Let’s set the record straight.

Myth: “It probably won’t happen to me.”

Reality: 1 in 5 working Canadians will experience a disability lasting 90 days or more before age 65. The most common causes? Mental health, cancer, and physical injuries—things that can affect anyone, no matter how active or careful.

Myth: “My employer coverage is enough.”

Reality: Group plans often cover only a fraction of your income—and usually don’t follow you if you leave your job. Personal disability insurance fills the gap and stays with you, no matter where your career goes.

Myth: “I’ll just use savings or government programs.”

Reality: Most savings aren’t built for long-term recovery—and government benefits may not apply or be enough. Disability insurance provides monthly, tax-free income when you need it most, without draining your future plans.

Myth: “If I don’t use it, I’ve wasted my money.”

Reality: Many plans offer return-of-premium options, letting you get back some or all of your payments if you never make a claim. It’s protection with value—either way.

You Might Need Disability Coverage If You

Rely on your income to support your lifestyle or family

Own a business or work for yourself

Don’t have enough employer coverage—or none at all

Work in a high-performance or specialized role

Want long-term security if health issues affect your ability to earn

Your Coverage. Your Way

At New World Agency, we don’t believe in one-size-fits-all. We build every disability plan around your lifestyle, career, and future goals—whether you’re protecting your paycheque, your business, or both.