Loss of Independence

According to Statistics Canada, life expectancy at birth is age 83 for women and 78 for men. Almost inevitably, age brings with it a higher risk of limitations than can hamper your ability to live independently. As we age, our ability to perform daily activities both physically and mentally may become more difficult to achieve as an individual. In Canada, 1 of 3 seniors aged 65 – 74 will become dependent on others to assist for daily activities and 4 of 5 seniors 85 years or older will require assistance. If one day you needed help performing everyday tasks, who would you get this help from? In 90% of cases, caregivers are family members, either a spouse or the children.


Loss of independence means the insured needs:

  • Help performing 2 of the 6 activities of daily living: bathing, dressing, eating, using the toilet, getting in and out of bed and chairs, or be incontinent OR
  • Ongoing supervision to ensure his or her security because of a cognitive impairment of organic origin (i.e., Alzheimer’s disease, senile dementia)

Why take out loss of independence insurance?

In the event you become unable to care for yourself, you receive a non-taxable monthly benefit, allowing you to keep your financial and estate plans on track. You can use the amount received as you wish, notably to:

  • Protect your wealth and children’s future inheritance
  • Hire home care personnel
  • Make required home adaptations
  • Get services not offered in public or private health care facilities