In May 2018, our advisor, Tim Chalke, set up an Income Protection policy for Mr. X, offering a monthly benefit of $8,125 in the event of illness or disability. The policy included a 60-day waiting period and could provide benefits until age 65 if necessary.

In 2022, Mr. X faced a significant challenge when mental illness forced him to stop working. He reached out to Tim in 2023 to file a claim, and thanks to the policy’s indexation feature, his monthly benefit had increased to $10,000. Tim guided Mr. X through the complex claims process, providing unwavering support and expertise.

By June 2024, Mr. X’s claim was approved, resulting in backpay from 2022 to 2024 totaling nearly $200,000 before tax. Mr. X now receives $10,000 per month, indexed, securing his financial stability for the next 20 years despite being unable to work.

Mr. X’s experience underscores the importance of comprehensive financial planning and the critical role of a dedicated advisor. At Leading Advice, we are committed to ensuring you have the protection you need to navigate life’s uncertainties. Contact us today to learn more about Income Protection and how we can help secure your financial future.