Protect your lifestyle with health and disability insurance

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4 min.

Discover the different kinds of health and disability insurance designed to adapt to your reality and needs!

Your income is essential to support your lifestyle. To make sure you’re protected in the event of a disabling illness or accident, various tax-free income replacement and financial assistance solutions are available to you.

Discover 3 types of health and disability insurance here!

1. Disability and income insurance

Disability and income insurance provides you with monthly benefit payments in the event of a disability, whether caused by injury, accident, burnout, illness or another covered condition.

Depending on your need and the product you choose, you can get salary replacement or an amount to help you repay your loans. This solution is ideal if you are in one of the following situations:

  • You are not covered by health or disability insurance with your employer.
  • You want to supplement your coverage.
  • You are self-employed or a business owner.
  • You want peace of mind with insurance that will help you meet your financial commitments, such as paying your rent or loans.

Depending on your income, age and lifestyle, a financial security advisor can help you find the product best adapted to your needs. At iA, most of our insurance products are customizable.

For example, with Superior Program disability insurance, we offer comprehensive coverage that can replace your salary for amounts ranging from $500 to $10,000 per month, for periods of 2 years, 5 years or even up to age 65.

2. Critical illness insurance

Critical illness insurance is designed to provide financial assistance should you be diagnosed with a covered illness. It helps you meet your financial obligations, cover the cost of health care expenses and avoid dipping into your savings so you can focus on your recovery.

Unlike with disability insurance, you can be covered for life rather than only during your active employment period. At iA Financial Group, our Transition critical illness insurance allows you to choose between two coverages:

  • Transition – 4 Illnesses covers the four most common critical illnesses that account for 85% of claims: cancer, stroke, heart attack and bypass surgery.
  • Transition – 25 Illnesses covers the most common illnesses as well as other conditions including paralysis and loss of independence.

It is also possible to combine these two coverages by choosing a specific amount and duration (temporary or permanent) for each.

For example:

If you are a parent of young children and have a mortgage, you can opt for Transition – 4 Illnesses for a temporary period of 20 years. This will allow you to be covered for a higher amount until your mortgage is paid off and your children reach majority.

In addition to the 4 Illnesses coverage, you can add Transition – 25 Illnesses permanent coverage (up to age 100) to cover common illnesses along with age-related illnesses such as Alzheimer’s, other forms of dementia or loss of independence.

Plus, if you have a child between the ages of 2 and 5, we offer free coverage for little ones with our Kiddy Plan! Enrolment is quick and easy and is done entirely online in just a few minutes.

To learn more about critical illness insurance, see our articles Critical illness insurance and its benefits and Critical illness insurance for children.

3. Accident insurance

Do you have an active lifestyle? Are you often behind the wheel? Does your job involve physical work?

Whatever your lifestyle, no one is immune to injury. Hence the advantage of having financial protection that can cover you at all times and in all situations!

We offer accident insurance that provides financial assistance should an accident prevent you from carrying on with your normal activities.

Depending on the options you choose, you can receive:

  • Lump sum financial assistance
  • Reimbursement of recovery expenses such as physiotherapy or adaptive equipment
  • Even monthly payments to cover your financial commitments

At iA, no medical exam is required for accident insurance, and application is quick and easy. In addition, both individual and family coverage are available!

Our Accifamily accident insurance provides 24/7 coverage for all the members of your family and is the perfect complement to public health insurance or your employer’s group insurance plan.

Or if you’re looking for fully customizable insurance, check out Acci 7 PLUS! It offers affordable, flexible and accessible protection with five coverage options that you can purchase together or individually, starting at just $7 a month.

We also offer free coverage for your baby between 15 days and 12 months of age with the Peek a Boo Plan. It provides financial assistance to help you care for your child in the event of an accident. You’ll even receive a free gift for your baby! See our article Why you should get insurance for your baby for more information.

Do you have questions or want to know more about how one of these products can meet your needs and reality? Contact an advisor today!

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