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Protect Your Income

Income Replacement Benefits

Insured by Co-operators Life Insurance Company

One in three working Canadians will experience a disability that affects them longer than 90 days. While provincial health plans can help alleviate some of the costs of medical care, only disability insurance can replace lost income and allow you to maintain your standard of living.

Why you need disability insurance

While most people are familiar with life insurance and may already have this type of coverage to provide for their families in the event of their death, many aren’t aware of the financial distress that could occur if they experience an injury or illness that renders them either temporarily or permanently disabled.

45% of Canadians believe that disability occurs infrequently
However, 1 in 7 Canadians are currently disabled in some capacity

Disability is more prevalent than you may think

In the event an injury or illness leaves you unable to work, how will you make up for lost wages, cover medical costs and pay your living expenses such as your mortgage, utilities and groceries? Unfortunately, almost half of all working Canadians don’t believe they have enough funds to cover expenses if they are unable to work.

While the government compensates employees with disabilities through the Canadian Pension Plan (CPP), you must contribute to the plan and meet strict eligibility requirements. If you’re employed, this means paying half of the contributions, but if you are one of the more than 33% of self-employed Canadians you’re expected to make the full contribution and self-fund your disability insurance. Personal disability insurance from EDGE ensures you receive the protection you need – no matter if you’re self-employed or receive benefits from an employer – without having to jump through hoops to receive your benefit when it’s needed the most.

Canadians become self-employed each year and will need to self-fund their disability insurance.

Disability coverage can insure against the loss of income due to injury or illness that prevents you from working by providing you with a monthly income replacement that can be used for anything you need – from paying medical bills to ensuring your family is still able to make car payments.

How income replacement benefits work with The Edge Benefits

The Edge Benefits has revolutionized disability income replacement within the Canadian insurance landscape to make these crucial benefits affordable, easy to qualify for and quick to issue, so all working Canadians can get income protection. Unlike traditional plans which are expensive and can be lengthy and difficult to qualify for, EDGE offers many plan designs and customization options, including guaranteed-issue disability benefits and a simplified, fast-tracked underwriting process, providing you flexibility and control over your income protection.

EDGE Disability Income Replacement Features:

  • Guaranteed issue injury-only coverage.

  • Simplified underwriting process for illness coverage.

  • Comprehensive disability coverage for injuries and illnesses.

  • Multiple benefit amounts and benefit periods to choose from.

  • Calculate your benefit amount using Gross Business Income or Net Earned Income.

  • Choose an immediate-, short-, or longer-term waiting period to coordinate when you would start receiving your income replacement benefits.

  • 24-hour coverage or non-occupational coverage for protection both on and off the job to complement workplace compensation benefits.

  • Purchase multiple injury and/or illness protection plans with different options to increase overall coverage without necessarily increasing premiums in the same manner as a single plan with immediate, maximum benefits.

  • Optional inexpensive riders to upgrade your coverage.

Income Protection - Injury-only Coverage

Every hour, 427 Canadians experience a preventable injury. Injury benefits provide affordable and easy to obtain income replacement, ideal for those with a limited budget or who don’t meet the qualifying criteria for illness coverage.

Income protection is guaranteed as long as the individual is between the ages of 18-69, works 20+ hours/week and 35+ weeks per year, and does not have any injury or pre-existing condition which restricts their bodily movement and daily activities.

$75 billion
By 2035 injuries will cost Canadians $75 billion

The EDGE Injury disability plan can be purchased with a benefit timeframe of 2-years, 5-years or ‘to age 70’. Benefits are payable until age 70 if the insured is disabled prior to age 68, or for 24 months if disabled between ages 68 and 75. Coverage terminates at age 75.

You may also be interested in The EDGE’s Fracture Accident Benefit which provides a lump-sum benefit payout to protect you from losses associated with an accident that results in a fracture, regardless whether that inhibits your ability to work.

Income Protection — Injury & Illness Coverage

In order to purchase illness coverage, you must also purchase (or already have) our injury coverage. In addition to qualifying for injury coverage, there is a simple underwriting process involved to receive illness-related income protection for those aged 18-64, with coverage to age 70.

+6 times
Illness is 6 times more likely to be the cause of a disability than accidents

Plan Design Options

Benefit amounts for injury and illness (either separate or combined) are available in increments of $500, from $1,000 up to $5,000 for classes BB, B, A, AA and Exec. Monthly benefits of $5,500 and $6,000 are also available for classes AA and Exec.

With waiting periods of 0, 30 and 112 days available, you can receive coverage immediately if needed, or choose a longer waiting period to coordinate benefits with EI or for a lower monthly premium. Plans are offered as 24-hour coverage to protect you no matter when an accident strikes, or as non-occupational coverage for protection off the job.

In addition to the monthly income replacement amount, standard benefits include:

  • Accident medical treatment benefit ($10,000)

  • Return to work assistance

  • Recurrent disability (6 months)

  • Soft tissue coverage (with limitations)

  • Waiver of premium (after 30 days and when benefits are payable)

Receive a quote forEDGE disability insurance today.

Get a Quote

With EDGE, you can complement your income replacement benefits and increase your illness protection by purchasing our Critical Illness Insurance which provides a lump-sum benefit in the event of a critical illness diagnosis.

Long-Term Disability Upgrades

The EDGE offers two long-term disability (also called permanent total disability) upgrade options to increase your total disability benefit potential.

If you purchase EDGE Loss of Income protection with a five-year benefit period or coverage to age 70, you can add our Lifestyle Protection Enhancer benefit (LPE) as a rider to receive a guaranteed issue tax-free lump-sum payment of $300,000 in the event you become permanently disabled due to an injury. For those who purchase EDGE Loss of Income protection with a two-year benefit period, the same $300,000 lump-sum benefit is available by adding our Permanent Total Disability rider (PTD) to your income protection plan.

Lifestyle Protection Enhancer benefits are payable after the insured has been totally disabled after 60 months of already receiving benefits from their injury policy. The waiting period for benefits with our PTD rider is 24 months. Waiver of premium is included for both riders after 30 days of total disability and when income benefits become payable.

Issue ages 18-64, coverage to maximum age of 65.

Get a quote for The EDGE’sdisability riders and special risk protection.

Get a Quote
Heartfelt thanks to the entire team at The Edge Benefits for their assistance during my disability leave. During these challenging times, I felt supported and understood by each individual I spoke to. My family and I are very grateful!
L.M. - Policyholder

FAQs about disability insurance

Do benefits expire?

How are income replacement benefits calculated?

Can I receive income support in addition to EI?

What’s the difference between WSIB/WCB and individual disability insurance?

What’s the difference between permanent partial disability and permanent total disability?

Does disability insurance protect against soft tissue injuries?

Contact The EDGE today to learn moreabout income replacement benefits.

Contact Us

The EDGE Difference

As Canada’s No. 1 provider of affordable, flexible financial security benefits, we have revolutionized the insurance industry by finding the best products for small businesses and individuals looking to create an individualized and comprehensive coverage package.

Experience the EDGE difference with:

  • A la carte flexibility to only choose and pay for the coverage you need.

  • Guaranteed issue coverage means no medical questions or doctor's appointments necessary.

  • Comprehensive disability coverage for injuries and illnesses.

  • Multiple benefit amounts and benefit periods to choose from.

  • No long underwriting processes, so you can be issued a policy in a matter of days or weeks.

  • Affordable, transparent rates for consistently low premiums.

  • Convenient enrollment and policy documentation 100% online.

  • Seamless coverage through job and life transitions.

  • Multi-product discount when you combine EDGE Health & Dental with any other EDGE coverage.

  • Quality guarantee and concierge claims assistance make it easy and stress-free to purchase and receive your benefits.

Insurance coverage is never one-size-fits-all with The Edge Benefits.

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