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by Auger Hollingsworth
&Nbsp; Don't Forget to Buy Disability Insurance...
I spoke to a shocked professional man today. He was shocked because I confirmed what his Ontario accident benefit insurer's adjuster told him. The maximum income replacement benefit he was eligible to receive was $400 per week. Plus, if he worked enough each week to earn $400, he would get nothing, even if his weekly earnings were more than $1500 before the accident.
For medium and high income earners, it is unwise in the extreme to rely exclusively on the Ontario auto accident insurance regime to assist you financially after an accident. First, the Ontario income replacement benefit amount is low. Second, the Ontario income replacement benefit decreases by every penny you make while you are disabled. Third, there are many ways to be disabled that would not make you eligible for Ontario income replacement benefits.
Although in many cases my clients recover their loss of income from the person who was responsible for the accident, that process is rarely quick and painless. Your mortgage is due long before your case against an at-fault driver will be settled. What do you do to meet your expenses in the meantime?
Financial planning requires planning for disability. As my Ottawa personal injury practice has taught me, anything can happen at any time. In an average week, I speak to no fewer than 10 Ottawa residents who cannot work because of an accident, of one type or another. For those who are self-employed and who are without disability insurance, the situation is soon dire.
If you are self-employed, please make this the month that you look after purchasing disability insurance to protect yourself and those who rely on you.
27.06.10
TORONTO - Now's not the time to hesitate; now's the time to compensate.
Mayoral candidates in Toronto are calling on feds to put up money to help repair vandalized downtown businesses and to replace the cop cars that were set ablaze Saturday by protesters.
"The violence was totally unacceptable," said mayoral candidate Rocco Rossi.
"We feel it's inappropriate that small business should be out-of-pocket for violence perpetrated during the G20 and should be getting compensation."
Councillor Adam Vaughan, whose ward includes much of the area where G20-related violence took place, had sent out a letter before the summit began, demanding the federal government compensate businesses affected by the event - whether it be property damage or loss of revenue during the weekend.
"Virtually, all the communication process, (the federal government) has just walked away from it," he said.
Vaughan said that the four police cruisers that were torched by anarchists on Saturday cost about $100,000 a piece and estimated the total bill for replacing the cop cars and repairing damage to stores and other property will hit $500,000.
Source: Toronto Sun
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