Two-thirds of workers have not discussed financial impact of disability leave: Survey

Disabilities happen to 1 in 3 workers

Ninety-five per cent of working Canadians agree a disability could happen at any time, yet 67 per cent have not discussed with their family how they would face the financial impacts if they could not work due to a disability, according to an RBC Insurance survey.

These are important conversations to have considering that 43 per cent of working households have had someone take off time due to disability, and 72 per cent of Canadians would face serious financial implications if off work for three months, according to RBC.

"Working Canadians cannot ignore the real risk that they may be off work with a disability sometime in their working careers," explains Mark Hardy, senior manager, life and living benefits, RBC Insurance. "One-in-three working Canadians will experience a period of disability lasting longer than 90 days during their working lives. Workers need to talk with their family and take action today so they are prepared for future financial implications of not being able to work."

Not knowing how to start the conversation (20 per cent) and a discomfort with talking about disability (19 per cent) are the leading reasons why Canadians are not talking about the financial implications of missing work.

Thirty-four per cent would be more open to a conversation if their own financial situation worsened and 23 per cent would discuss the topic if they personally knew someone who had missed work due to a disability, found the survey.

"There is a mistaken perception that a disability 'will never happen to me,' but becoming disabled is a real possibility during our careers. Disability can occur suddenly, and beyond the serious financial implications there's also the emotional toll to consider, which further underscores the need for conversation," said Hardy.

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