INNOVATION May-June 2019

The odds of su ering from a disability before age 65 are 1 in 3 1

It’s unfortunate, but true: disabilities are disturbingly common . Every day in Canada, 165 Canadians are involved in an accident that leaves them partially or totally disabled. 2

Disability has a high nancial cost While disability certainly takes immense physical, emotional and psychological tolls, people who suer from disability also take a tough nancial hit. Aer all, nearly 50% of mortgage foreclosures are due to disability . 3 To give you an idea, have a look at the total annual cost to Canadians who suer disabilities caused by dierent injuries, when you factor in health care costs plus the costs of reduced productivity and other issues: 2

Total cost ($ Million)

Description

Just the facts about Engineers Canada-sponsored Disability Income Replacement Insurance

Transport incidents

4,289 8,680

Falls

Fire/burns

366

Unintentional poisoning

1,264

Struck by/against sports equipment

187

Other unintentional injuries

7,127 1,142

Violence

Undetermined intent/other

598

There’s no denying it: to even think about yourself or a close family member becoming disabled – even temporarily – is incredibly unpleasant. But the facts will tell you that it’s something to which you should at least give some thought – so you’re prepared, just in case .

Engineers Canada-sponsored Disability Income Replacement insurance can help Engineers Canada-sponsored Disability Income Replacement Insurance was created exclusively for professional engineering, geoscience and technology association members and their families. This aordable plan can be a huge help while you recover, covering 6 types of disabilities . It features low rates not available to the general public and provides monthly benet payments up to $15,000 . 4 It includes automatic Cost of Living Adjustments, a compassionate care benet and a waiver of premiums if you’re totally disabled for more than 3 months.

1 Canada Life and Health Insurance Association, “A guide to disability insurance,” January 2016. 2 Parachute, “The Cost of Injury in Canada,” 2015. 3 www.disabled-world.com, “Disability Insurance: Benets, News and Claims,” 2017. 4 Based on a percentage of your monthly earnings, while you are disabled and unable to perform your occupation. Manulife, Manulife & Stylized M Design, and Stylized M Design are trademarks of The Manufacturers Life Insurance Company and are used by it, and by its a¥liates under license. All rights reserved. © 2019 The Manufacturers Life Insurance Company. Manulife, P.O. Box 670, Stn Waterloo, ON N2J 4B8. Underwri§en by The Manufacturers Life Insurance Company

Learn more and apply:

manulife.com/egbcDI 1 877 598-2273