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What is health and disability insurance?

Health and disability insurance products protect you in case of illness or accident. The purpose of this insurance is to cover loss of income and additional expenses incurred due to an illness or accident (extended care, prosthesis, medications, etc.). Based on the coverage chosen, you could receive a lump sum, monthly payments or reimbursement of certain expenses.

At iA Financial Group, we offer three categories of health and disability insurance:

The importance of having health and disability insurance

The unexpected can happen at any time. Whether you suffer an accident, an illness or any other reason for disability, the consequences can be difficult emotionally as well as financially.

If something were to happen, knowing that you’re covered by health and disability insurance can help you focus on your recovery, without worrying about your financial situation. You’ll have the peace of mind you need to recover!

3 types of insurance designed for your needs

Disability and income insurance

This insurance provides monthly benefit payments in case of disability. Some products provide income replacement, while others cover your loan repayments.

The ideal solution if:

  • You don’t have disability insurance through your employer and you want to protect your income in case of disability
  • You want insurance that would help you cover your monthly loan payments or rent
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Critical illness insurance

If you were to be diagnosed with a critical illness that’s covered by your policy, this insurance provides tax-free financial assistance that can be used as you see fit. It means you can maintain your standard of living and focus on the most important thing: your recovery.

The ideal solution if:

  • You want to protect your family’s financial health and be able to focus on your recovery.
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Accident insurance

This insurance can provide a lump-sum payment or cover certain accident-related expenses. Some options may also provide a monthly payment to cover your financial commitments.

The ideal solution if:

  • You aren’t able to work due to an accident and need some help to cover unexpected expenses during your recovery.
Find out more

Invested in your future!

Because half our new clients are newcomers to Canada, we understand your unique needs and challenges when starting a new life here. Discover our insurance and savings brochures, available in Chinese and Punjabi.

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Compare our critical illness insurance products

Disability and income insurance Critical illness insurance Accident insurance
Method of payment Monthly Lump sum Lump sum or monthly (based on coverage selected)
Non-taxable benefits
Type of coverage Accidental injury or illness Illness Accidental injury
Ideal for replacing your income
Ideal for covering medical expenses (rehabilitation, medications, etc.)
Your policy may include additional terms and exclusions. These terms take precedence over any coverage mentioned on this page.