1 in every 3 working Canadians will experience a disability that lasts longer than 90 days. Bills still need to be paid even if you can’t work. It’s important to know what you’re covered for and how much you will receive should a disability disrupt your life. Contributing to the Canada Pension Plan doesn’t mean you qualify for the CPP Disability Benefit. The disability must be considered “severe and prolonged.” A temporary condition may make it difficult for a successful claim. It’s possible a more substantial benefit of disability income could come from the Workers Compensation Board (WCB), but know that this benefit is only payable if your injury occurs at work, performing the duties of your job. The third source of income replacement is through a disability insurance policy. Read carefully, contracts have unique definitions for what qualifies as a disability. Don’t wait until an injury happens to ask “who pays me now?”

Thomas Johnson, cascadefinancialgroup.com