SOLE PRACTITIONERS
AND SMALL FIRMS

A Guide to Disability Insurance

The following information is for educational purposes only. This information is not intended to replace the advice of an insurance professional or address specific situations. Your personal situation should be discussed with your professional advisor(s).

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If you are like most Canadians, you own insurance because you understand the risks and consequences of losing an asset. You insure your home, your car and you probably insure your life, but do you insure your most valuable asset?

Your most valuable asset is your ability to earn a living.

Think of it this way: assuming a 2.5% increase in income per year, if you are age 35 and making $70,000 a year, by age 65 you will have earned over $3 million of income.

Total potential earnings to age 65 assuming 2.5% annual increase

Age / Salary 25 30 35
$30,000 $2,022,077 $1,647,846 $1,317,841
$50,000 $3,370,128 $2,746,410 $2,195,135
$70,000 $4,718,179 $3,844,975 $3,073,189
$90,000 $6,032,080 $4,943,539 $3,951,243
$120,000 $8,088,306 $6,591,385 $5,268,324
$150,000 $10,110,383 $8,239,231 $6,585,405
$200,000 $13,480,511 $10,985,641 $8,780,541
Age / Salary 40 45 50
$30,000 $1,024,733 $766,340 $537,958
$50,000 $1,707,888 $1,277,233 $896,596
$70,000 $2,391,043 $1,788,163 $1,255,235
$90,000 $3,074,199 $2,299,019 $1,613,873
$120,000 $4,098,932 $3,065,359 $2,151,831
$150,000 $5,123,665 $3,831,699 $2,689,789
$200,000 $6,831,553 $5,108,932 $3,586,385

Do you own any other asset that is this valuable?

Recognizing the immense value of your ability to work is only the first step toward understanding your need for disability insurance protection. Your next step is to understand your risks of becoming disabled.