Are you a
self-employed worker?

In principle, self-employed workers aren't covered by the general employment insurance plan for disability, unless they have voluntarily enrolled in the RQAP special benefits program (maternity, paternity or caregiving leave). For illness or disability, there is no automatic public safety net. Private disability insurance is your only real protection.

Coverage is calculated on your average net income over the last two or three years. The premium is adjusted accordingly. Some policies even let you increase coverage without new medical evidence if your income rises. Alexandre tailors the amount and clauses to your type of income.

The occupation definition (or own-occupation definition) is the most important clause in a disability policy. It specifies that you're considered disabled if you can no longer perform YOUR specific occupation - not just any job. Without this clause, the insurer can stop paying if you can do other work, even poorly paid.

It depends on your age, health, income, occupation and the definition clause. In general, the premium is estimated at 2% to 4% of the annual income covered. For an income of $60,000/year covered at 70%, the premium could fall between $80 and $150/month. Alexandre prepares a free estimate within 24h.

If you pay your premiums personally (not through a corporation), they're generally not deductible. In return, the benefits received in case of disability are tax-free. If your disability is taken out through a corporation (incorporated entrepreneurs), the premiums may be deductible but the benefits will then be taxable.