THERE’S A BETTER WAY TO PROTECT YOUR FUTURE.

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Protect your income with confidence.

Invest in disability insurance.

You’ve already invested so much in your career. Years of late-night study sessions. Thousands of dollars in tuition. A job that doesn’t allow you to be anything but your best. Now protect your income with insurance that’ll work for you when you can’t.

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DISABILITIES ARE MORE COMMON THAN YOU THINK.

Gavel of the president of a court of law wrapped in bubble wrap
Statistics showing 1 in 4 Canadian workers experience disability before age 65

1 in 4 Canadian workers experience disability before age 65 1

Statistics showing that 36% of lawyers' disabilities are due to mental health issues

of lawyers’ disability claims are due to issues related to mental health 3

Statistics showing that less than 10% of disabilities are caused by accidents

Fewer than 10% of disabilities are caused by accidents 2

Statistics showing that 57.5% of lawyers suffer from psychological distress

of legal professionals suffer from high or very high psychological distress during their career 4

Statistics showing 1 in 4 Canadian workers experience disability before age 65

1 in 4 Canadian workers experience disability before age 65 1

Statistics showing that less than 10% of disabilities are caused by accidents

Fewer than 10% of disabilities are caused by accidents 2

Statistics showing that 36% of lawyers' disabilities are due to mental health issues

of lawyers’ disability claims are due to issues related to mental health 3

Statistics showing that 57.5% of lawyers suffer from psychological distress

of legal professionals suffer from high or very high psychological distress during their career 4

Lawyers don’t tend to fall off ladders—at least not at work—but nobody’s immune to stress.

Every job has its hazards. Unsurprisingly for a career in which the stakes are always high, mental health issues like depression and anxiety are among the fastest-growing causes of disability among Canadian lawyers.

Disability insurance is an investment in your peace of mind. A recent survey revealed that money is the number one cause of stress for 4 out of 10 Canadians, and that nearly half of us lose sleep over financial worries5. Insurance that protects your income won’t help with every part of your well-being (not by a long shot), but it just might help you sleep better. And that’s no small thing.

1

Source:

Statistics Canada, “New data on disability in Canada, 2022,” published on December 1, 2023

2

Source:

World Health Organization, 2013.

3

Source:

Manulife and CBIA/Lawyers Financial, reasons for disability claims among clients of Lawyers Financial in 2023, as of December 31, 2023

4

Source:

University of Sherbrooke, “National Study on the Psychological Health Determinants of Legal Professionals in Canada,” 2022.

5

Source:

FP Canada, “Financial Stress Index,” June 2023

PROTECT YOUR INCOME.

INSURANCE THAT PROTECTS WHAT MATTERS MOST.

Nobody wants to think about worst-case scenarios—but a balanced approach to insurance demands an honest appraisal of life’s biggest “what ifs.” What if you woke up tomorrow unable to earn an income? How would you pay your bills? How would you pay off your student debt or mortgage? How would you provide for your family?

Disability benefits will allow you to:

  • replace your income
  • protect your cash
  • preserve your assets
  • secure your short-and-long-term financial stability
  • prioritize your health and well-being
Scales of Justice wrapped in bubble wrap

YOUR INCOME IS THE BASIS OF YOUR FINANCIAL PLAN. AND YOUR LIFESTYLE.

Your home, car, gym, vacations, those late nights out, those late nights in, the food on your table, even the table itself… All this is possible thanks to your income.

By investing in disability insurance, you secure your income right up until the day you retire. And that income secures a quality of life for you and the people you love.

Several million dollars are at risk.

Paycheques have a way of adding up over the course of a career. Without disability insurance, the average lawyer risks losing millions of dollars of future income.

Protect up to $16,000 of after-tax income per month.

High-income earners may be eligible for additional benefits of up to $4,000 per month for the first three years of disability.

PROTECT YOUR MONEY FOR the long haul.

Law is more than a profession, it’s a passion. And since so many lawyers choose to work beyond the traditional retirement age, we offer coverage up to your choice of age 65 or 71.

Two pricing options

Information showing that a lawyer may choose a stepped rates option for his disability insurance

Pay less now, gradually increase later.

Information showing that a lawyer can choose a level rates option for his disability insurance

Pay the same amount for as long as you’re covered.

PROTECT YOUR INCOME

THE PARTNER WHO WORKS FOR YOU WHEN YOU CAN’T.

At Lawyers Financial, we help you build wealth and protect what matters most.

And because we're a not-for-profit organization for lawyers by lawyers, you can be confident that we’re serving your needs, not our bottom line.

With Lawyers Financial disability insurance, you benefit from:

  • some of the most affordable insurance rates in Canada
  • coverage extending until age 65 or 71
  • optional coverage that allows you to take a job in another field while still receiving full disability benefits for being unable to work in your own occupation—the law

TALK TO A HUMAN,

NOT A ROBOT.

Connect with a local Lawyers Financial advisor to learn about the smarter way to protect your income—and get expert advice about personal insurance.

LET'S TALK.

Connect with an advisor to discuss your disability insurance needs.

FAQ

A disability is a situation where a worker is unable to perform their job due to illness or injury. It can be caused by a work or road accident, a serious illness such as cancer, the discovery of a degenerative disease, or a mental health disorder like anxiety or depression.

Disability insurance is available to lawyers, judges, and Québec notaries aged 64 or younger. But in insurance—as in investing—it pays to start early. The younger and healthier you are, the more likely you are to qualify for broad and affordable coverage.

All of our disability insurance plans include the following benefits:

  • Tax-free monthly payments for total disability
  • Tax-free monthly payments for partial disability
  • Guaranteed coverage

You can also add the following optional benefits:

  • Cost of living adjustment rider—allows your coverage to keep up with inflation.
  • Future increase option—allows you to increase your coverage once a year to keep up with your growing salary.
  • Own occupation rider—allows you to take a job in a different field while still receiving full disability benefits for being unable to work in your own occupation—the law.
  • Return of premium rider—rewards you for continued good health.

The causes of disability are numerous. But here are just some examples of disabilities covered by this plan:

  • injury following an accident
  • depression
  • cancer
  • cardiovascular illness
  • neurological disease
  • musculoskeletal problem
  • mental disorder
  • etc.

It's your choice. Depending on the insurance you select, you could receive your first income replacement benefit 30, 60, 90 or 120 days after your claim. The most popular option is the 90-day waiting period.

The price of disability insurance depends on several factors such as your age, health, and annual income. A Lawyers Financial advisor can give you a personalized quote based on these three factors as well as your needs, priorities, and budget.