Income Loss and Protection Insurance

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Why you need Income Loss and Protection Insurance for your Employees

Offering an income loss and protection plan gives your employees peace of mind in the case of disability. These plans offer key employees the ability to either entirely replace, or top up, their existing disability benefits. As an added benefit to you as the employer, any long-term disability (LTD) premiums you pay on the employees behalf, are a tax-deductible business expense.

Our policies are flexible and easy to understand, giving your employee the choice of when the benefits begin after a disability and how long their coverage will last.  Additional options are available to add value including:

Additional options are available to add value including:

Cost of living rider

  • Automatic increases in the benefit each year to keep pace with inflation and cost of living

Own-occupation rider

  • Employee receives the disability benefit if he or she can’t perform the “material and substantial duties” of his or her occupation, or position, when becoming disabled. The employee may find full time employment in a different field or role and still receive the entire benefit.

Future income increases rider

  • Guarantees the ability to get disability insurance in the future, without having to prove medical insurability

Retirement protection plan

  • Replaces a portion of your retirement contributions if the employee becomes disabled

Why partner with Cowan Insurance Group?

Expert Advice

Someone who specializes in personal insurance will call you directly. Our expert advice means you will speak to the right person the first time.

Custom Coverage

Custom coverage specifically built for you means that Cowan will take the time to learn about your insurance needs.

Our Promise

Cowan is Canadian owned and independent. Your satisfaction is the only outcome we accept. Our clients are at the heart of everything we do and we care about what you care about.