Income Protection Insurance for RMTs

RMT- Registered Massage Therapists Ontario

A Health Interruption = An Income Interruption

Why do you need Income Protection Insurance?

While most Registered Massage Therapists are familiar with life insurance and may already have this type of coverage to provide for their families in the event of their death, many aren’t aware of the financial distress that could occur if they experience an injury or illness that renders them either temporarily or permanently disabled.

A health interruption is more prevalent than you may think

In the event an injury or illness leaves you unable to work, how will you make up for lost wages, cover medical costs and pay your living and business expenses, such as your mortgage, utilities and groceries? Unfortunately, almost half of all working Canadians don’t believe they have enough funds to cover expenses if they are unable to work.

Income protection insurance ensures you receive the protection you need – whether you’re self-employed or receive benefits from an employer – without having to jump through hoops to receive your benefit when it’s needed the most.

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FAQS

Won't the government take care of me?

If you are wondering whether the government will support you in case of disability, it is important to note that while the Canada Pension Plan (CPP) provides compensation for employees with disabilities, you need to contribute to the plan and fulfill specific eligibility criteria. If you are self-employed, you are required to make the full contribution and self-fund your disability insurance.

Even though CPP Disability Benefits are accessible to all eligible individuals, it can still be a challenging process. Benefits are distributed based on the severity of the condition, and if your circumstances were not deemed severe enough at the time of your application, you may not receive benefits.

What are the odds of suffering from a disabling injury or illness?

Many people are not aware that the likelihood of experiencing a disabling injury or illness is 3.5 times greater than that of dying prematurely. If this were to happen, would you have the financial means to cover your monthly expenses or would you have to rely on credit card debt or savings?

How long would the savings of an individual last?

If you saved 5% of your income for 10 years, a disability would wipe out all of your savings in just 6 months!

Testimonials

“Being a self employed RMT comes with a lot of perks, however, one of the major downsides is taking time off. I was always so worried that if I got ill and couldn’t work I wouldn’t be able to pay my mortgage and all my other bills. I mean if I even just sprained or broke a finger, I couldn’t work. Nobody plans on getting ill, but I need to know that if I do, I will be able to take the time I need to heal and not have to worry about money.

I met with Del shortly after starting my business and he really helped me design a package that worked for me and my unique situation. There are so many options and I wanted to keep my expenses to a minimum. Together we came up with a package that I am happy with, financially and for my peace of mind.”

– Kelly O

Testimonials

“Being self-employed has its perks. But watching my husband be off work for an extended period made me realize something. His job came with disability insurance, mine did not. Because we were equal contributors to the household income, one of us being out of work can be devastating financially. I work out of my home. If the mortgage can’t be paid, it has a profound effect on my business. Anything can happen at anytime; it only takes a second. Even something as simple as a sprained wrist could take me out for a period of time.

I originally reached out to the Wilmot’s for investment advice. Just like an RMT treats the whole body, Del deals with the whole financial picture. Del spent the time going through everything, making sure I had the coverage to suit my current needs. I now feel more secure with the coverage that I have.

Del and Suzanne are easy to talk to. They were excellent at moving me through my fears about disability insurance. They explained everything about the process so that there were no surprises.

I highly recommend talking to Del and Susanne. They make the subject of Disability Insurance comfortable.”

– Lynne H., RMT