Disability insurance is designed to provide a tax-free benefit replacing between 45 to 60% of your gross income when you are unable to perform your occupation due to a sickness or injury. Individual disability insurance has different definitions depending on the type of disability policy.
There are three types of disability insurance: True Own Occupation Income Replacement Insurance Gainful Occupation
Income Replacement Insurance is the most common total disability insurance policy. The typical definition is: disability due to sickness or illness that prevents you from performing material and substantial duties of your occupation or any occupation for which you are reasonably qualified by training, education or experience.