Ottawa Lawyer:Don’t Forget to Buy Disability Insurance…

I spoke to a shocked professional man today who called for a free consultation with an Ottawa personal injury lawyer.  He was shocked because I confirmed what his Ontario accident benefit insurer’s adjuster told him.  The maximum income replacement benefit he was eligible to receive was $400 per week.  Plus, if he worked enough each week to earn $400, he would get nothing, even if his weekly earnings were more than $1500 before the accident.

For medium and high income earners, it is unwise in the extreme to rely exclusively on the Ontario auto accident insurance regime to assist you financially after an accident.  First, the Ontario income replacement benefit amount is low.  Second, the Ontario income replacement benefit decreases by every penny you make while you are disabled.  Third, there are many ways to be disabled that would not make you eligible for Ontario income replacement benefits.

Although in many cases my clients recover their loss of income from the person who was responsible for the accident, that process is rarely quick and painless.  Your mortgage is due long before your case against an at-fault driver will be settled.  What do you do to meet your expenses in the meantime?

Financial planning requires planning for disability.  As my Ottawa personal injury practice has taught me, anything can happen at any time.  In an average week, I speak to no fewer than 10 Ottawa residents who cannot work because of an accident, of one type or another.  For those who are self-employed and who are without disability insurance, the situation is soon dire.

If you are self-employed, please make this the month that you look after purchasing disability insurance to protect yourself and those who rely on you.

If you have been injured in an Ontario accident, make sure you speak with a personal injury lawyer who can help you get the best possible compensation for your injuries. For more information, contact the Ottawa injury lawyers at Auger Hollingsworth by email [email protected] or by phone at (613) 233-4529.

About the Author: Brenda Hollingsworth

Brenda Hollingsworth co-founded Ottawa’s Auger Hollingsworth in 2005 with her husband Richard Auger. Together, their mission was to create a personal injury law firm for Eastern Ontario that is unrivalled in the province for customer service and legal expertise. Brenda was named an Ottawa Business Journal Forty Under 40 award recipient and took home the Women’s Business Network’s Businesswoman of the Year award in the Professional category. She was also recognized as one of Ottawa Life Magazine’s “Top 50 People in the Capital.” She is often quoted as an expert and has appeared in media outlets such as CTV, The Globe and Mail, National Post, Ottawa Citizen, Sun Media, CBC, Toronto Star, Montreal Gazette, CFRA and many legal publications.

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