Disability Income Rider (Based on Loans)

5/22/2025 12:00:00 AM

A Solution Designed for Young Professionals

Disability doesn’t wait for homeownership. Coverage shouldn’t either.

With the constant rise in housing costs and often limited savings, more and more young professionals and families are choosing to rent for longer periods. In fact, homeownership among Canadians aged 18 to 34 has dropped significantly — from 47% in 2021 to just 26% in 2024.

But while they may not have a mortgage, the risk of disability remains just as real. Without adequate protection, it can become difficult to pay rent or cover ongoing expenses if they are unable to work.

This is where Assumption Life’s disability income rider comes in. This flexible, affordable solution evolves with your clients’ needs providing essential income protection at every stage of life. email-header-05-(2).png

Coverage Tailored to Their Reality
This rider covers a variety of loans and common payments for young professionals, including:

Rent;
Condo fees;
Rental payments;
Student loans;
And much more.

A Competitive Advantage

Female, 32 years old, non-smoker
Term 20: $450,000
Disability benefit rider (based on loans): $2,000 per month

Unique Features:

Protection up to $3,500 per month, or up to $5,000 per month when combining the loan-based and income-based disability benefits.
Parental leave: Individuals on parental leave may be eligible for a monthly benefit of up to $1,500. The person must have worked at least 20 hours per week and a minimum of 8 months per year before taking the parental leave.

Client leaflet Complete rider guide

Have a client in mind?

Contact your Director of Business Development today to explore how Assumption Life’s solutions can meet their needs!