Compare up to three individual disability quotes by yearly premium, waiting period and benefit against one disability scenario.
Individual disability quotes differ in three ways that are hard to compare in your head: the premium, the waiting (elimination) period, and the monthly benefit. This tool turns them into one number for a scenario you choose.
How to fill it in. Pick a scenario, for example being off work for 12 months while needing $4,000 a month: 12 x $4,000 = $48,000. For each quote, enter the yearly premium; in the second field, the income you would go without during the waiting period (monthly need x waiting months); and in the third, the most that policy would pay in your scenario (its monthly benefit x the months it would pay after the wait).
What it calculates. Covered = the lower of (scenario - waiting-period amount) and the policy maximum. Income gone without = scenario - covered. Total = one year of premium + income gone without.
Worked example (illustrative figures). Quote A pays $4,000 a month after 90 days: in a 12-month absence it pays 9 x $4,000 = $36,000, leaving $12,000 uncovered; total $1,800 + $12,000 = $13,800. Quote B, with a 30-day wait, pays 11 months, $44,000, leaving $4,000; total $2,600 + $4,000 = $6,600. Quote C leaves $24,000 uncovered; total $25,300.
Limits. One year of premium against one scenario is a simplification: you pay premiums for many years and may never claim. Try a short absence (3 months) and a long one (24 months) as well. Compare definitions of disability, benefit periods and guarantees, which this tool cannot score; see disability policy terms.
Coverage Types, Price Factors and 2026 Rules
The disability insurance terms that decide whether a Canadian policy pays: definitions of disability, waiting and benefit periods, offsets, residual benefits and guarantees.
Worked Calculations and Buying Checklists
How self-employed people in Canada can protect income: EI special benefits registration, CPP disability, individual disability and business overhead expense insurance, with worked costs.
