Disability insurance versus critical illness insurance: which do you need?

IG Private Wealth Management |

When it comes to insurance, there are some types that we automatically take out. Car insurance, home insurance and life insurance are often considered non-negotiable essentials.

While auto insurance is a legal requirement and home insurance can be a mortgage requirement, personal insurances are not obligatory. Nevertheless, 22 million Canadians have life insurance. However, other forms of personal insurance, while just as important, have less of an uptake. Just over half of Canadians have disability insurance, while only 2 million Canadians have critical illness insurance.

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