Last week, I wrote “When does permanent life insurance make sense?” If you missed the article, you can find it here

If you are like most Canadians, you are likely relying on your group long term disability policy to replace your income in the event of an injury or illness. This can be a costly mistake. Let me ask you this – do you know exactly how much you would receive in the event of a disability? Most do not and are shocked to learn that they are not covered the way they have hoped.

Many group plans have limitations or maximums that may limit how much coverage you would receive. The higher your income – the more of a problem this may become. I refer to this as reverse discrimination. An employee earning $40,000 per year may be covered for 85% of their take home pay where as one of their colleagues earning $250,000 may be covered for only 35%. It’s extremely important to take the time to understand what the maximums are within your policy and if these benefits are taxable or not at time of claim.

If you are earning commissions or a bonus – your group disability plan may not actually replace that income if you become disabled. If you are a business owner – any profit that you earn and retain within the corporation would not be considered insurable income under your group LTD plan. However, you do have the option to purchase an individual disability plan cover this.

You might also want to take the time to read the definition of disability. Some policies may not pay out if you are able to work in another occupation – even if that job pays a much lower income.

If you do rely on only your group benefits – I strongly encourage you to reach out to an expert like myself to help you understand exactly how much coverage you currently have. You may not have as much coverage as you may have hoped. You should also know that not all insurance brokers specialize in disability insurance and some may be just as confused as you are when reading these booklets.



There is not a one size fits all solution when it comes to insurance and ultimately it should be you who decides which coverage is best for you, your family and your business. It’s my job to help you clearly understand what your options are so you can make an easy and informed decision when it comes to buying insurance.

Being an insurance broker with strong relationships at most of the major insurance carriers, I am confident that you are in great hands when I am on your side. I can help you navigate the market to ensure that you obtain the best possible coverage and price for your situation.



I am always happy to provide a free, no-obligation insurance consultation or second opinion. Feel free to reach out!


By Jeff Romansky

CHS, CPCA Principal, SecurePlan Insurance Solutions

Jeff started his insurance career in 2006 by helping hundreds of insurance advisors grow their business by providing them with comprehensive advice, consultation and training. After nine successful years, he decided to take his knowledge and start his own practice to ensure his clients are getting the best advice. His office is based in Grimsby, ON and he serves clients throughout Southwestern Ontario and the GTA.