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This Type of Careful Planning Made All The Difference

Posted by Dan Gillis on October 20, 2016
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The change from being a pastor to operating an IT business full-time is not for the fainthearted.

But Bruno Walton knew this career leap would benefit his family by allowing them to stay in the area of Alberta they loved, while also letting him try something new.

Although Bruno had operated an IT business for several years, the majority of his time had been focused on his duties as a pastor. However, when his business started to grow, he decided it was time to focus 100 percent of his efforts on his company.

While it may have been an adventure, neither Bruno nor his insurance professional took the change lightly. Since Bruno no longer had benefits through the church, they put in place a Health Spending Account and purchased individual disability insurance. Importantly, Bruno also got a disability insurance overhead policy for the business.

Just six months later, on a Sunday afternoon, Bruno found himself doubled over in pain. What he thought was a kidney stone was, in fact, an iliac aneurism, which caused him to suffer two strokes. Doctors operated, but said he only had a 5 percent chance of survival. Bruno beat those odds, reviving from a coma after three weeks and eventually moving on to rehab.

While Bruno had been away from his fledgling business, it continued on in his absence because of the planning he and his insurance advisor had undertaken. The disability insurance overhead policy helped the business meet payroll and pay vendors, while assuring customers that the business would go on.

Bruno's personal disability policy replaced a portion of his salary, which helped pay for his family’s everyday expenses, such as the mortgage and groceries, while he was recovering.

Bruno has fully recovered, and is now back to work at his company. “I’m so thankful I had disability insurance in place,” says Bruno. “Without this planning, I’m not sure where my family would be financially, or if my business would even still be alive today. This planning made all the difference.”

Key Takeaway

The possibility of becoming disabled isn’t something someone would normally plan for, yet it happens every day.

A disability, whether it’s sudden or because of a degenerative condition, can rob you of your ability to earn a living.

To ensure you’re protected in case of an accident leaving you unable to perform your day-to-day activities, disability insurance has you covered.

Related reading: What You Need to Know about Applying for Disability Insurance 

Interested in learning more about Disability Insurance and how it can help your business and your family? Download our free ebook: A Beginner's Guide to Disability Insurance.

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Topics: protect your family, disability insurance, disability insurance in Canada