Disability insurance versus critical illness insurance: which do you need? | Gaylor Tachauer & Associates

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Disability insurance versus critical illness insurance: which do you need?

IG PRIVATE WEALTH MANAGEMENT | Jun 6, 2024

When it comes to insurance, there are some types that we automatically take out. Car insurance, home insurance and life insurance are often considered non-negotiable essentials.

While auto insurance is a legal requirement and home insurance can be a mortgage requirement, personal insurances are not obligatory. Nevertheless, 22 million Canadians have life insurance. However, other forms of personal insurance, while just as important, have less of an uptake. Just over half of Canadians have disability insurance, while only 2 million Canadians have critical illness insurance.

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Gaylor Tachauer & Associates
416-645-5191
GaylorTachauer@igpwm.ca

IG Wealth Management Inc.
Mutual Fund Division

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_{Mutual funds and investment products and services are offered through the Mutual Fund Division of IG Wealth Management Inc. (in Quebec, a firm in financial planning). Additional investment products and brokerage services are offered through the Investment Dealer, IG Wealth Management Inc. (in Quebec, a firm in financial planning), a member of the Canadian Investor Protection Fund.}

_{Insurance products and services distributed through I.G. Insurance Services Inc. (in Québec, a Financial Services Firm). Insurance license sponsored by The Canada Life Assurance Company (outside of Québec). Mortgages are offered by Investors Group Trust Co. Ltd., a federally regulated trust company, and arranged by nesto inc. Licences: Mortgage Brokerage Ontario #13044, Saskatchewan #316917, New Brunswick #180045101, Nova Scotia #202507230; British Columbia, Alberta, Manitoba, Newfoundland/Labrador, PEI, Yukon, Nunavut, Northwest Territories. Mortgage advisors are licensed professionals and equivalent to the following titles per province: Sub Mortgage Broker/Mortgage Broker in British Columbia, Mortgage Associate/Mortgage Broker in Alberta, Associate/Mortgage Broker in Saskatchewan, Salesperson/Authorized Official in Manitoba, Mortgage Agent/Mortgage Broker in Ontario, Mortgage Associate/Mortgage Broker in New Brunswick, Associate Mortgage Broker/Mortgage Broker in Nova Scotia, or Mortgage Broker in Newfoundland & Labrador.}

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