What Happens If You Can't Work? The Truth About Disability Insurance in Canada

In this episode of Unpacked and Empowered Finances, we break down one of the most overlooked areas of financial planning: disability insurance. Most families in New Brunswick and across Canada assume they are already covered through Employment Insurance, Workers Compensation, or an employer benefit plan. The reality is that each of these programs has significant limitations. We walk through each one clearly so you can understand exactly what you have, what you do not, and what that gap could cost your family.

WHAT YOU WILL LEARN:

- Why the ability to earn an income is your most important financial asset

- Why 68 percent of Canadians would face financial hardship within three months of a disability

- The specific limitations of EI sickness benefits, WorkSafeNB, and CPP Disability

- The two hidden risks in employer group disability plans (portability and taxes)

- How a personal disability insurance policy provides tax-free, portable income protection

- Key policy terms explained without jargon: waiting period, benefit period, and disability definitions

- Four riders that can customize a policy to your stage of life

This episode is educational in nature. No specific products are recommended. The goal is to give you the vocabulary and understanding to have an informed conversation with a licensed advisor.

ABOUT YOUR HOST: Marianne Agudo is a licensed life insurance agent (including accident and sickness insurance) in New Brunswick. Insurance products are distributed through Financial Horizons Group. Marianne is also a mutual funds investments representative registered through Quadrus Investment Services Ltd.