AXA.caFAQs

Your income is the cornerstone of your financial security. Disability insurance protects your employment earnings by providing you with income when you are unable to work as a result of a disability.

If in life you've been spared from sickness or an accident, then count yourself lucky. But keep in mind that you cannot predict what the future holds for you. Disability insurance is as crucial as life insurance since you are more likely to become disabled than you are to die prematurely.

(source: Canadian Life and Health Insurance Association).

If in life you've been spared from sickness or an accident, then count yourself lucky. But keep in mind that you cannot predict what the future holds for you. Disability insurance is as crucial as life insurance since you are more likely to become disabled than you are to die prematurely.

(source: Canadian Life and Health Insurance Association)

AXA's offers coverage in case of an accident or an illness. It includes a wide range of benefits:

• Disability due to Accident;
• Disability due to Illness;
• Business Overhead Expense (Accident);
• Business Overhead Expense (Illness);
• Hospital Allowance due to Accident
• Hospital Allowance due to Illness
• Critical Illness;
• Accidental Death and Dismemberment;
• Accidental fracture

AXA provides much more than just a disability benefit. It also offers business overhead expense coverage. The insureds and their beneficiaries can use other benefits according to their needs.

Following an accident or illness, you could receive benefits of up to $3,500 per month.

In general, disability coverage ends at age 65.

A 20-year-old male is about three times as likely to become disabled for 90 days or more than to die before age 65. For a 35-year-old woman, the odds are 7 to 1!

Partial disability is defined based on tasks performed by the insured and/or time (number of hours worked), whereas residual disability is defined based on an insured's loss of income. The purpose of both of these provisions is to help individuals suffering from a disability to return to work, without totally depriving them of benefits.

Everyone can benefit from Critical Illness insurance. Statistically, you're unfortunately more likely to suffer from a critical illness than you are to die before the age of 75. And, in most cases, people don't realize how a critical illness can affect your estate or your family life until it's too late. That's why most people should consider taking out this type of benefit.

Thanks to Critical Illness benefit, you can protect your lifestyle and lessen your financial worries.

Your benefit could allow you to:

• Have access to the best medical treatment in Canada or abroad;
• Protect your estate (RRSP, loan, mortgage payments, etc.);
• Enable a parent or spouse to take time off work to care for a sick child or spouse;
• Have your home refitted or obtain special equipment as a result of an illness;
• Hire home caregiver to help with household chores or care for children;
• For business owners: compensate for the loss of an employee;
• Take an unpaid leave of absence to recover.

As you can see, you can use the benefit as you'd like based on your own priorities.

The three illnesses representing nearly 85% of all claims consist of:

• Cancer
• Heart attacks
• Strokes

In Canada, one in three women and two in five men will develop some form of cancer during their lifetime

(source: www.cancer.ca - Canadian Cancer Statistics 2006).

In order to receive benefits for a loss of independence, insureds must be totally and permanently unable to perform, by themselves, at least two of the following six activities of daily living:

• Feeding;
• Dressing;
• Bladder and bowel continence;
• Transferring;
• Bathing;
• Toileting;

or suffer from cognitive impairment.

Cognitive impairment means a mental deterioration and loss of intellectual ability, evidenced by deterioration in memory, orientation and reasoning, which are measurable and result from demonstrable organic cause as diagnosed by a specialist. The degree of cognitive impairment must be sufficiently severe as to require a minimum of eight (8) hours of daily supervision.

In the case of disability insurance, insureds receive a certain percentage of their salary so that they can maintain their lifestyle during the period when they are unable to work.

In the case of Critical Illness insurance, insureds receive a tax-free payment after they have been diagnosed with a critical illness.