Disability-insurance gap

What this is

Could you pay your bills if you couldn't work tomorrow?

Most Canadians have some group LTD (long-term disability) through work, but it usually maxes out at 60-67% of salary + caps + offsets. This calc shows the gap between what you need (~70% of income) and what your policies provide.

• ·Recommended monthly disability income ≈ 70% of current — replaces what you bring home after tax.
• ·Group LTD is usually taxable, so $5k/mo group ≠ $5k/mo personal.
• ·Lifetime gap exposure = monthly gap × months until age 65. Often $1M+ of unfunded risk.
• ·Critical illness (CI) is a one-time lump sum, not income replacement — different instrument.