Choose a benefit period that provides career-long income protection
51-year-old General Contractor, Business Owner
This EDGE policyholder fell off scaffolding at a job site, suffering a complete spinal cord injury that resulted in permanent paralysis.
Although he previously held Workplace Compensation Benefits in addition to his 24-hour EDGE Loss of Income coverage, his WCB coverage lapsed when he failed to remit premiums. As his EDGE Loss of Income – Injury policy was still in good standing, he received 100% of his monthly benefits for the duration of his benefit period, waived premiums during this claim period, and the full $10,000 Accident Medical Treatment Benefit to reimburse treatment expenses.
This sole proprietor was able to maintain a steady source of income to help cover day-to-day living expenses, and received additional financial assistance for treatment expenses. Income replacement benefits were vital in minimizing immediate financial hardship, providing the claimant time to undergo medical treatment, modify his living accommodations, and adjust to a new lifestyle. Although he received the maximum benefits under his policy, given the life-altering nature of this injury and his age, this client would have benefited greatly from a benefit period covering him to age 70.
Accidents are unpredictable and can happen at any age. Speak to your Advisor or contact us to discuss plan design options to ensure you have the best coverage to protect you for the duration of your career. EDGE income protection plans are completely customizable, presenting many affordable ways to maximize protection within your available budget.