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4 Things to Know About Income Insurance

4 Things to Know About Income Insurance

We can all agree with this statement: it is difficult to navigate insurance.

Question :

What would happen if you were no longer able to work because of an accident or illness? Would you be able to meet your financial obligations?

Answer:

When you purchase an income insurance policy, you’ll have peace of mind so you can take the time you need to recover.

Income insurance, also known as disability insurance, is coverage that guarantees you a monthly income to cover the loss of your earnings in the event of total disability.

Specifically:

Here are four (4) things you need to know about income insurance and the criteria that determine the premium for your coverage.

1- This is specific coverage based on the criteria below:

  • your job;
  • your salary;
  • your age;
  • your gender;
  • whether you are a smoker or non-smoker.

2- When you become disabled, you will receive benefits for a predetermined period that varies from one insurer to another, following a waiting period* that is also predetermined and that varies from one insurer to another. 

Still have questions about the disability insurance offered by Matcha Insurance? Our financial security advisors are available to answer any questions you may have and to reassure you.

Contact us now by calling 1 844 532-3228 or Book an Appointment.

3- Your regular occupation is covered for a predetermined minimum time. When your occupation is no longer covered, the insurer can help you transition to a comparable job where you will be able to resume your job duties.

4- You could recover the premiums paid

Discuss income insurance with your advisor. He or she will be able to present you with the various options that are most advantageous, depending on your situation and the specific details of each insurer.

Waiting period: “This means that you must wait a specific number of days after you become disabled before you can receive benefits.” (https://lautorite.qc.ca/en/general-public/insurance/group-insurance/disability-insurance)

On the same subject

How do I file a complaint?

  • In case of dissatisfaction, start by getting in touch with our Director of operations, Mrs Sylvie Chartrand:
    Mrs Sylvie Chartrand
    Director of operations :
    sylvie.chartrand@matchainsurance.ca
    Telephone : 1 844 532-3228
  • If you are not satisfied with her response, you can contact our Complaints officer to make a formal complaint:
    Mr. Jean-Patrice Dozois
    Assistant Vice-President, Legal Affairs & Compliance
    1705-625, Avenue President-Kennedy
    Montreal (Québec) H3A 1K2
    Email: jean-patrice.dozois@humania.ca
    Telephone: 1-800-363-1334 or from Montreal: 514-485-1334, ext. 307
    Fax: 1-844-773-4999

The complaint must be filed in writing. If you need help filing your complaint, you may call Ms. Marie-Kim Larouche, Legal advisor, at 1-800-363-1334 ext. 479.

Any complaint made in writing to our Complaints officer will be recorded in Matcha Insurance’s complaints registry if it includes at least one of the following:

  • A reproach against Matcha Insurance;
  • The identification of real or potential harm that a consumer has sustained or may sustain; or
  • A request for remedial action.

A complaint file is opened for each complaint. The file includes all of the documents required to assess your complaint.