Disability Insurance for University Students

Typically as a university student you’re automatically enrolled into a health and dental insurance plan, but what about disability insurance? Have you given any thought to how you’re going to deal with facing a disability due to injury or illness?

Thankfully, illness and injuries for university students aren’t common, but they can and will happen; particularly if you engage in sports and other recreational activities such as skiing or snowboarding. Although right now you probably feel like you’re going to live forever, it’s best to be prepared with sufficient coverage that goes beyond health and dental insurance.

By planning now – while you’re enrolled as a university student – you can protect the goals you’re setting and achieving, as well as all the time and money you’re investing into your specialized occupation.

What is Disability Insurance?

A disability, whether it’s the result of a degenerative condition, happens suddenly or because of an injury, can take away your ability to earn a living. With disability insurance, you get protection against potentially losing income because of the disability.

Think About the Following Possibilities

· Recuperating from a car accident can take months

· A serious skiing injury could drastically disrupt your life and studies

· You could be diagnosed with a debilitating depressive disorder after a traumatic event

Disability Insurance for University Students at the University of Ottawa

One thing that you have to your advantage right now is your age – so your premiums will be cheaper, and you can lock in comprehensive coverage for the future.

When you lock in coverage, this means that the insurance company can’t change your premium amount, or the terms and conditions of your policy as long as your premium is paid.

Disability Insurance for University Students

With the right policy, you can get disability insurance while you’re in university that will cover you throughout your student life, and as you go into a full-time job. Additionally, depending on your program of study some insurance companies offer discounts to university students.

The premiums and benefits differ between companies including the length of the term – some policies will cover you for your lifetime, while others will only cover you to age 65. This is why it’s important to get solid advice from an insurance professional. You need to know all your options so you can choose the best policy for your situation.

If you’re a university student and want to know your options for disability insurance, we can help. At MDL Financial Group Ltd., we work with students in all fields of study to ensure they are fully covered now and throughout their professional careers.

To learn more or to contact a broker, please call us at 613-416-9649.