Disability & critical illness · Self-employed · British Columbia
No employer, no group benefits, no sick days. If a contractor, consultant, or incorporated professional in BC can't work, revenue stops the same week. Disability insurance replaces the paycheque; critical illness insurance buys the recovery. This page is the plan.
The details that decide claims
Disability policies are not commodities. Two policies with identical premiums can pay completely differently. These are the terms we negotiate for you.
The single most important clause. "Own-occupation" pays if you can't do your job — a surgeon who can't operate, a builder who can't climb. Cheaper "any-occupation" definitions can deny the claim if you could theoretically do any work at all.
Locks your premium and contract wording to age 65. The insurer cannot raise your rate or rewrite the terms — no matter how your health, income, or industry changes.
Most disabilities aren't total. Residual riders pay proportionally when you can work reduced hours or your income drops — which is how most self-employed claims actually look.
CPP disability pays a maximum of roughly $1,700 a month, requires a severe and prolonged condition, and denies a large share of first applications. It is not a plan.
Compare that to your numberIncorporated? Read this first
When you pay disability premiums with personal after-tax dollars, the monthly benefit is generally received tax-free. Run it through the corporation to save a little tax now, and the benefit can become taxable exactly when you need every dollar. Small decision, huge claim-time difference.
The corporation is often the right owner for other pieces of the plan — we build the whole structure, not just one policy.
Straight answers
Through your tax returns — typically your net income after business expenses, averaged over recent years. This is why writing everything off aggressively can shrink the benefit you qualify for. If a big application is coming, plan the timing with your accountant.
Match it to your cash runway. If you have three months of expenses saved, a 90-day waiting period cuts your premium meaningfully without creating a gap. No savings? Pay for the shorter wait — the cheap premium is worthless if you go broke before benefits start.
Disability pays monthly and only while you can't work. Critical illness pays one lump sum on diagnosis — even if you keep working. For a business owner, that lump sum is a bridge: hire a replacement, keep the lease paid, take six months off properly instead of relapsing at week six.
That's exactly when it's cheapest and easiest to qualify. Occupation class and health at application set your rate for decades. Waiting until there's a diagnosis or a riskier contract on your books is how people become uninsurable.
Often yes, though options and maximums vary by carrier — this is precisely where having four Tier-1 carriers to compare matters. Newer businesses may start with a lower benefit and increase it as income history builds.
No chatbots. One advisor.
Occupation classification is where self-employed applicants win or lose — and where an advisor earns their keep. One call, four carriers compared, contract terms explained in plain English.