Personal insurance provides peace of mind and an affordable safety net to prevent significant financial hardship from a sudden medical event. There are many types of personal insurance; health and dental benefits provide immediate reimbursement for out-of-pocket medical expenses not covered by government plans, while other types of coverage include income replacement due to a disability or protection against specific risks that are highest during your working years. Each type of coverage serves a specific role in a well-balanced financial plan. Whether you are enrolled in a group benefits plan through work, or are one of the 33% of Canadians who are self-employed, having a personal benefit plan is vital to ensuring your finances are adequately protected. Employer-sponsored benefit plans vary greatly, often providing only a basic level of protection, and only cover you while you remain with that employer. Similarly, WSIB and WCB only protect against workplace accidents, yet statistics show that most accidents actually occur off-hours and illness and disease are six times more likely to be the cause of disability than accidents. Qualifying for workplace compensation can be difficult, and as much as 50% of claims are rejected by these plans.