The totally-not-scary introduction to disability insurance // sponsored content

Lawyers Financial Disability Insurance
Sure, you can pay your bills and pack a healthy lunch. But if you really want to be a grown-up, it’s time to check this box off your to-do list

By Precedent

On Wednesday May 29th, 2019


Think of the hardest job you have to tackle today. Maybe it’s that angry email from opposing counsel sitting in your inbox. Or maybe you have to stay late to deal with a client emergency. No matter what task you’re dreading, it probably sounds more fun than confronting this terrifying subject: disability insurance.

We get it. It forces you to imagine a time when you’re so sick or injured that work becomes impossible. You then have to consider the consequences of such an illness or injury: the loss of income, the inability to pay basic expenses, the stress it would put on your family. And, finally, you have to actually purchase a policy and start making monthly payments. That’s some pretty serious adulting.

“But it’s important to act responsibly,” says Sara Forte, founder of Forte Law, a labour and employment firm in Surrey, British Columbia. “I’ve seen clients deal with a health crisis without any income.” Instead of focusing on their recovery, they have to worry about money. Forte never wanted to be in that position. “We have three kids and a mortgage,” she says. “Disability insurance was a no-brainer.”

Her challenge, then, was to buy the best policy. There are so many companies, so many options and, of course, so much fine print. It was an overwhelming task. That is, until she discovered Lawyers Financial, a brand of the Canadian Bar Insurance Association — the only organization in the country that provides insurance and investment solutions exclusively to the legal profession. In short order, Forte became a devoted customer.

Lawyers Financial has two core selling points. First, it’s a not-for-profit — yes, you read that correctly — so it can offer products that are customized for the legal profession at ultracompetitive rates. And second, the board of directors is made up entirely of lawyers, so it understands the unique needs of the legal community.

In addition to disability insurance that protects your income, the organization also offers a business-expense plan that, on the surface, looks pretty typical. If a sole practitioner or small-firm owner falls ill, it covers up to $30,000 per month in business costs. This sort of product typically asks that business owners submit receipts for reimbursement. But if you have a Lawyers Financial plan, you’ll receive your full monthly benefit in cash every month for the first year of your claim. “This is a very unique offering,” says Gaston LeBlanc, a Lawyers Financial advisor. “We’re really proud of it.”

What if you work at a large firm and have group coverage? Can you rest easy? Well, not exactly. “Your plan might have an income cap or it could exclude certain kinds of income, such as bonuses,” says LeBlanc. “In those situations, you should buy coverage through Lawyers Financial to bridge the gap.”

No matter what type of coverage you need, it really is best to act fast. “A lot of people procrastinate, thinking they can get disability insurance any time they want it,” says LeBlanc. “But it’s best to buy when you’re young and healthy. Otherwise you could face exclusions, a higher premium or be denied coverage.”

Disability Insurance












What you need to know about Lawyers Financial

It’s your one-stop shop. Lawyers Financial, a brand of the CBIA, sponsors a full suite of insurance products: life, critical illness, disability, business expense, office, employee benefits and travel, as well as home and auto. It can also meet your investment needs with personalized advice, TFSAs, RRSPs, non-registered plans, plans for law firms and a diversified selection of low-fee investment funds.

It’s a not-for-profit. Lawyers Financial measures success in satisfied clients, not dollars. That’s why it offers some of the best rates in the industry.

It’s for sharing. Lawyers Financial products and services are available to your family and law firm staff.

Ready to start adulting? Visit or call 1-800-267-2242.

This story is from our Summer 2019 issue.