You are here

Less than half of Canadians are covered by disability benefits



April 27, 2018 10:30

Less than half (48 %) of Canadians are covered by disability in the context of their social benefits, while the rate was 57 % in 2015, says a survey from RBC Insurance.

Among those who do not have disability insurance at work, 84 % have not purchased their own insurance, » which exposes them to financial risk in the event of their inability to work due to a disability «, says RBC.

Review the coverage

«As the majority of canadian workers report that they do not have disability insurance as part of their benefits, they should review their coverage and make immediately the necessary to be well protected in case it happen to something,» says Maria Winslow, senior director general, health insurance at RBC Insurance. In the absence of adequate financial protection, the Canadians are exposing themselves to risks, for themselves and for their family, if they are struggling with a disability that requires them to be absent from work. «

Serious financial consequences

The insurer points out that many people are not willing to bear the financial consequences of a work stoppage. In fact, 68 % of workers have admitted that the financial implications could be serious if they became disabled and could not work for three months.

What’s more, 45 % of workers with a disability would have loved to get off work, but were not able to do so for financial reasons, » says RBC. More than half (51 %) say they have been forced to return to work sooner because of their financial situation.

Related posts

Leave a Comment