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Self-Employed Health Benefits Canada.

As a self-employed person you're not entitled to health, dental & disability insurance like an employee with group benefits. You need private health insurance.

Self-Employed Health Insurance Benefits Options.

  • Health and Dental Insurance.
  • Extended Health (Massage, Vision Care etc.)
  • Long-Term Disability Health Insurance. 
  • Critical Illness (Cancer, Organ Failure etc.) 
Health insurance Canada

Being self-employed we help you protect your health and income without having to pay too much for health insurance!

Our Health & Dental Insurance Partners

What Type of Health Insurance Coverage Are You Looking For?

Health insurance quote search Canada
  • When purchasing a Private Health Insurance Plan, medical questions will be asked to determine your rate.
  • Premiums for health insurance may be subject to tax.
  • Travel benefits for applicants aged 80 and over is limited to In-Canada coverage only.
  • Premiums may be subject to change.
What Province Do You Live In?
  • What Province Do You Live In?
  • Alberta
  • British Columbia
  • Manitoba
  • New Brunswick
  • Newfoundland
  • Northwest Territories
  • Nova Scotia
  • Nunavut
  • Ontario
  • PEI
  • Quebec
  • Saskatchewan
  • Yukon
Who Needs Coverage? What Type?
Me Only
  • Me Only
  • Me & Spouse
  • Me, Spouse & Child
  • Me & Child
  • Me, Spouse & Children
  • Me & Children
Prescription Drugs
Dental
Prescription & Dental
Extended Health Only e.g. Massage, Eyeglasses
Are You Losing Group Coverage Through Work?
YES
NO
Interested In Private Hospital Accommodation?
Private
Semi-Private
What Is Your Approximate Age?
-Select-
  • -Select-
  • 18 - 34
  • 35 - 44
  • 45 - 54
  • 55 - 59
  • 55 - 64
  • 60 - 64
  • 65 - 69
  • 70 - 74
  • 75 - 79
  • 80
  • 81+
Interested in Short/Long Term Disability Insurance
YES
NO
0 of 500

Get the best private health insurance in canada.

Being self-employed like you are, you're not always entitled to receive the same types of benefits as an employee working in a company. Because of that, if you need emergency health care or if you get sick or injured and can't work, your income could stop or you have to pay a high cost out of pocket.


Blue Alpha Wealth's private health insurance options are well suited for individuals who are self-employed, entrepreneurs, independent professionals, contractors, work on a commission basis or anyone seeking health benefits not covered by a company group plan.

Our Health Insurance Solutions:

  • Avoid the stress of not having the financial resources to cover the rising cost of healthcare.
  • Limit the risk you will be faced with financially by out of pocket costs if you are faced with a major illness or situation.
  • Allow you to handle healthcare concerns right away without worrying about financial implications.

Limitations of Provincial Health Insurance Plans

Provincial insurance plans do play a major role in helping cover some essential and necessary healthcare requirements, however, they contain a number of limitations when it comes to overall coverage. Here are some of the limitations of Provincial health insurance plans:

  • Prescription drugs, dental services, or routine eye exams (for individuals 19 to 64 years of age).
  • Ambulance transportation and semi-private or private hospital accommodations
  • Services from chiropractors, massage therapists, naturopaths, osteopaths, physical therapists, chiropodists/podiatrists, psychologists, and other specialty services
  • Hearing aids and other medical equipment or appliances
  • Coverage for some pre-existing condition coverage like Botox™ for migraines

Learn More About Self-Employed Health Insurance Options.

Self-Employed Disability Insurance

How Long Can You Afford To Go Without Your Income or Paycheque?

Take away the income block and the whole structure falls apart!

Are You Financially Prepared for A Disability?

Sources of Money

The Problem

Savings

If you save 5% of your income each year, six months of total disability could wipe out 10 years of savings.

Bank Loan

Which financial institution will lend you money if you are disabled and not able to work?

Spouses Income

Can one person be a spouse, parent, private nurse and work at the same time?

Liquidate Assets

Can you get a fair market price when you are forced to liquidate?

Disability insurance for self-employed Canada

a complete health insurance plan includes some form of disability insurance to replace your income if you can't work.  

Self-Employed disability insurance replaces your income and protects your lifestyle in the event you get sick or hurt. It also ensures you have a business to come back to when you recover. It's essential to your health insurance portfolio!

Your income or salary provides for the lifestyle you currently live. What would happen if your income were cut down or stopped suddenly? How long could you go without your income?

Get A Self-Employed Disability Insurance Quote.

Dsiability insurance quote
  • Request Quotes.
  • Review Quotes With Blue Alpha Wealth.
  • Buy Disability Insurance Risk Free.
Female
Male
Smoker
Non-Smoker
Individual Disability Insurance
  • Individual Disability Insurance
  • Business Overhead Expense Insurance
Interested in Life Insurance Quote?
Yes
No

FAQ About Self-Employed Disability Insurance

How much does disability insurance cost?

You can expect to pay 1-4% of your current income or 2-6% of the monthly disability benefit amount you choose. Cheaper doesn't always mean better and the most important thing to pay attention to is policy definitions. In addition, your disability insurance cost depends on several factors including:

  • Policy definitions such as whether the policy considers you disabled if you can’t work in any occupation, or if you can’t work in your occupation?
  • Is your considered policy non-cancellable and guaranteed renewable, or can the insurance company raise the premium or cancel your policy at certain intervals like 5 years?
  • The financial strength ratings of the insurance company?
  • Your gender, smoking status, height, weight
  • Your financial information like bankruptcy
  • Your occupation and the risks you have to take outside of work such as skydiving etc.
  • Optional benefits added to the policy such as inflation protection or partial benefits
 

How does disability insurance work?

Disability insurance is like insurance for your ability to earn an income. It covers you if you can't work and earn an income if you get sick or hurt. You consult with your doctor and they recommend how long you need to be off and that will be the period you will get paid the benefit. Your benefit amount depends on your income and you need to be employed to be able to replace your income. You can claim multiple times if you get injured or sick multiple times over the life of your policy.

 

Why is disability insurance important?

In general, your ability to earn a living is your most important asset as if funds your lifestyle. Disability insurance provides you with a percentage replacement of your income if for some reason your income is cut down or stops immediately due to an illness or injury and you can't work for a while. It is a foundational insurance that holds up everything else.

 

What if I have disability insurance through work?

Any type of disability insurance you have in place is good as long as it will pay you when you need it. The challenge of workplace disability insurance is that it it before taxes when you get paid a benefit. So you typically end up with a 40% pay cut that will be taxed once you receive it. In addition, if you make over $100,000 a year you are covered up to a maximum for most group plans. Disability insurance at work is beneficial if you make a low income. If you make bonuses or commissions as a major part of your income, workplace disability insurance doesn't cover.

 

What is not covered by disability insurance?

It depends on the policy terms. Disability will typically cover you for an injury or accident as standard. You will have to add an option for illness or sickness coverage. If you had a pre-existing condition stated in the policy at application, you will not be covered for that and it's considered an exclusion. It's important to read the policy provisions to determine what is covered and what is not. Blue Alpha Wealth can walk you through and explain the policy provisions thoroughly. 

 

What are the type of disability insurance in Canada?

Two main types of disability insurance in Canada are short-term disability insurance and long-term disability insurance. Short-term disability insurance covers lost income for about three to four months while long-term disability insurance typically pays a portion of your lost income for anywhere from one year to your entire life. This is why it's important to buy your own long term disability insurance because after a while your workplace long term plan will stop paying and expect you to go back to work.

 

How do I compare different disability insurance policies?

You compare by looking at policy definitions such as definition for what is considered a disability and when and how they will pay. You also want to consider the financial strength and ability of the insurance company to pay. It's important to go through the contract language with an independent broker like Blue Alpha Wealth to ensure you get the right policy.

 

Are disability insurance benefits taxable?

In most cases if you buy a private individual disability insurance policy, your benefits are tax-free as you have used after-tax dollars to pay for your policy. If say for instance you get a policy through work, if your employer pays the premium you will be taxed on your benefits. If you pay the premium you won't be taxed. Always talk to your accountant for tax advice for your unique situation.

Can I buy disability insurance with no medical exam?

Yes you can. These are called guaranteed issue disability insurance policies. The drawback to these is that you will pay for the policy but at time of claim you will go through underwriting or medical exam to see if there is any issues. The insurance company can deny a claim if they find something or an issue wit your health that would cause them not to pay. It's always good to do medical underwriting prior to buying a policy so you know exactly what you're covered for.

 

What is an elimination or waiting period?

This is the time that passes before the insurance company starts paying you your monthly benefit. it's like a deductible of time. It makes the cost of your policy cheaper the longer you wait to receive benefits. You can have a 0 day, 15 day, 30 day or 90 day waiting or elimination period.

 

What waiting period should I choose?

It depends on how long you are able to go without an income and can tap into your savings. Most policies are priced to have the sweet spot as a 90-day elimination period. The premium doubles by decreasing the waiting period to 30 days.

 

What is a medical exclusion?

This is a case whereby you have a pre-existing condition and at time of application the insurance company approves your application on the condition that they don't cover the pre-existing condition if it's necessary not to. This exclusion could be temporary or permanent and if temporary the insurance company will let you know when the exclusion will come off and under what circumstances.

 

Can I still buy disability insurance if I have medical issues?

It depends on the insurance company and the type and severity of the medical problems. The insurance company has three options:

  • Charge you a higher premium for the policy
  • Exclude the condition from the policy
  • Decline insurance altogether

It's important to determine this prior to application in the event you want to take a dry-run before you apply.

 

Difference between individual disability and group disability insurance?

Group Long Term Disability Insurance

  • Benefits are taxable if your employer pays the premium
  • Benefits based on a percentage of base income. Bonus and commissions are typically not covered
  • Benefits typically reduced during a period of disability if you receive benefits from another source or work in a different occupation
  • More restrictive definitions within the policy (qualification for benefits may require you to be unable to work in ANY occupation)
  • No rate guarantees
  • Partial disability may not be covered
  • Policy can be changed or canceled by the insurance company or your employer at any time
  • Policy is connected to the employer and generally not portable

Individual Disability Insurance

  • You receive benefits tax-free if you pay the premium
  • Quality plans will cover you in your own occupation/specialty
  • More liberal definitions within the policy to pay you more money in more claims scenarios
  • Higher monthly benefits
  • Benefits can increase with inflation
  • Rate guarantees to age 65 or for a lifetime
  • You own the policy and can take it with you to a new job or occupation (portability)

Get Full Protection of Your Income. WSIB (Workers Comp.) Will Only Cover You For On The Job Claims. WSIB IS Unsafe Health Insurance.

Disability insurance coverage

Features of Self-Employed Disability Insurance

Get paid from Day 1

Benefits payable from Day 1 of a claim.

Tax-Free benefits

Pay no taxes on your benefits.

Fast claims process

Benefits are usually paid within 7 days of claim.

No integration of benefits

Get paid on top of other benefits you may claim.

Comprehensive coverage

Back injuries, nervous disorders and soft tissue.

Injury & Illness Plans

Coverage for accidents, injury and illnesses.

Disability happens to a family, a business. Not just an individual.

Real Examples of Causes of Disability By Age & Occupation

Many people think they’re “immune” from the possibility of becoming disabled. Here is a list of actual claims as submitted by health insurance companies' disability insurance claim files. What could possibly prevent you from being able to work? Curious about what type of disability affects your profession? Get in touch with Blue Alpha Wealth.

Cause of Disability

Occupation

Age

Multiple Trauma-Accident

President – Construction Company

38

Cerebral Aneurysm

Psychiatrist

55

Cancer of Lung

General Sales Manager

48

Degenerative Disc Disease

Veterinarian

54

Uncontrolled Diabetes

Lawyer

31

Lumbar Laminectomies

Emergency Physician

42

Coronary Artery Disease, Angina

Accountant

55

Neurotic Depression

Insurance Broker

35

Cervical and Lumbar Back Sprain

Advertising Consultant

34

Severe Coronary Artery Disease

Ophthalmologist

58

Cause of Disability