How does long term disability work in Ontario?

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Ross Mirian /
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How does long term disability work in Ontario?

Throughout our working careers, we pay into social benefits that create safety nets for people in our society. Before their implementation, people who had unfortunate accidents or life-altering medical problems were left out on their own to fend for themselves. This is the reason that we have disability payments. You have helped support the system your whole working life, and now that you are in need, you should be supported. Many people ask us “how does long term disability work in Ontario?” With this article, we will attempt to give you a basic overview.

FIRST OFF, WHAT IS LONG TERM DISABILITY?

In the event that you are seriously injured or come down with an illness that means you can no longer work, your long term disability insurance will protect you. This means that it will pay you at least a portion of your income for a specified length of time. Those who are affected by these hardships often wouldn’t be able to support themselves without it. The insurance will give you the money that you need to cover basic care, bills, expenses, and other things that you need.

HOW LONG DOES IT LAST?

This will depend on your condition. Most plans will pay at least the first two years for you while you recover from your injuries if you are not able to even perform the basic tasks involved with your job. From there, you will need to find a new occupation that you are capable of performing within reason with your skillset and education level. We know that it isn’t always easy to switch careers and adjust to a new life under new circumstances, but in the event of a major issue, you may have to.

WHAT IF I CAN’T PERFORM ANY BASIC TASKS?

If after a set length of time you are still not able to even perform any duties of a reasonable job, then you will be entitled to continuous long term disability benefits. These will pay you a set portion of your wage. If you truly do have a medical condition that doesn’t allow you to work, then long term disability will be a replacement for your income.

WHERE DO I GET IT?

Insurance is purchased privately through an insurance broker or company, by a group via the same means, or purchased through your employer. If you have it through your job, then you may either have it paid by your company, split between the two parties or paid entirely by you. If you pay it, then it is not taxable.
When you are faced with a life-altering illness or injury, the last thing that you need to be thinking about is where your next paycheck will come from. You have so much more to worry about. Having long term disability insurance means that in the unlikely event of a tragedy, you will be covered by a policy that will provide income to you if you are unable to work. Now that you know how long term disability insurance works in Ontario, you can contact our experts today to find out exactly what you are entitled to.

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