DISABILITY PLANNING Income Strategies for Needs

Many more people in Canada acquire a disability during life than are born disabled. Part of the reason for this is the correlation between disability and aging: the older one becomes the greater the occurrence of disability. Disability not only describes visible conditions such as those that would lead to use of a wheelchair, it also means inabilities that are not apparent such as those arising from chronic pain, loss of vision or hearing, and mental health conditions. If you are committed to serving the large and growing market of individuals---both the disabled and the caretakers of the disabled--- for whom disability planning is a critical component of financial security, this course will provide valuable insights and practical knowledge that can benefit you today and throughout your financial advisory career. You will learn to:

• Communicate effectively and respectfully with and about disabled clients, including language choices, etiquette around mobility aids and service animals, and how to avoid stereotypes;
• Identify all income sources available to a disabled client — federal (EI sickness benefits, CPP disability benefits, Canada Disability Benefit), provincial assistance and workers’ compensation, and private insurance — and explain how they combine for specific client scenarios (congenital, employed and injured, aging, never employed);
• Determine when a client qualifies for the disability tax credit and how DTC approval enables the RDSP, the Canada Disability Benefit, and provincial supplements;
• Recommend an appropriate combination of disability income, critical illness, and long-term care insurance.

Advise knowledgeably and comprehensively with the information in this course. It is essential for advisors whose clients are preparing for age 65 retirement (when group coverage may end), engaging in high-risk activities, or living with or caring for a disability personally or in their family.