If you have questions about disability insurance in GTA, contact our office for more information.
This overview is designed to give you an introductory look at the complete suite of our Living Benefits products, including key features, benefits, value and target markets. For more details or specific product information, contact us today!
Full Range of Disability Product Lines from the Major Carriers
| This is typical of an executive-level disability contract: | |||||||||||||
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| Product Overview | Offers top quality income protection during total, partial or residual disability. | ||||||||||||
| Target Markets | Professionals and executives who value a comprehensive income protection plan. | ||||||||||||
| Premium Structure | Level, guaranteed to age 65. Guaranteed renewable after age 65 if insured continues to work full-time (subject to change in premiums). | ||||||||||||
| Issue Ages | 18 - 60 (age nearest) | ||||||||||||
| What Triggers Payment of Benefits? |
Total or reduced disability due to injury or sickness. Total Inability to perform the substantial duties of the regular occupation and not working elsewhere. Reduced Choice of residual or partial definition at time of claim. Can switch option each month during first year of claim. Residual Not totally disabled but suffers at least a 20% loss of income. Benefits are proportional to the income loss. Partial Inability to perform one or more important duties or can only work half the regular hours. Fifty percent of monthly benefit payable for first 36 months; 25% thereafter. |
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| When Does Payment Begin? | After selected elimination period from onset of disability: 30, 60, 90, 120, or 730 days. | ||||||||||||
| How are Benefits Paid? | Monthly benefits payable during the selected benefit period while disability lasts: 2 or 5 years, or to age 65. | ||||||||||||
| Benefit Maximum |
Maximum Monthly benefit selected at issue depends on earned income, with overall limits as follows:
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| Standard Benefits |
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| Optional Riders (age restrictions may apply) |
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* Not available to part-time workers. ** Not available to farm owners, part-time workers, class B or class A business owners.
| This is typical of an intermediate level disability contract. | ||||||||||
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| Product Overview | Provides cost-effective protection against total disability, with optional partial or residual benefits. Built-in discounts for business owners. | |||||||||
| Target Markets | Small business owners and employees who want affordable and reliable income protection. | |||||||||
| Premium Structure | Level, guaranteed to age 65. Guaranteed renewable after age 65 to age 75 if insured continues to work full-time (subject to change in premiums). | |||||||||
| Issue Ages | 18 - 60 (age nearest) | |||||||||
| What Triggers Payment of Benefits? |
Total disability due to injury or sickness (plus partial or residual disability if the respective rider is added). Total: during regular occupation period, inability to perform the substantial duties of the regular occupation and not working elsewhere. After regular occupation period, inability to work in any reasonable occupation. Regular Occupation Period: normally 5 years (2 years with 2-year benefit period). May be extended to age 65 (except for farm owner, part-time workers, some class B occupations and short benefit periods). |
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| When Does Payment Begin? |
After selected elimination period from onset of disability: 30, 60, 90, 120 or 730 days However, farm owners may not select 30-day elimination period and part-time workers may not select 30 or 60-day elimination period. |
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| How are Benefits Paid? |
Monthly benefits payable during the selected benefit period while disability lasts: 2 or 5 years, or to age 65* |
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| Benefit Maximum |
Same as Proguard Series for class 4S/4A/3A/2A. For classes A and B as follows:
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| Standard Benefits |
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| Optional Riders (age restrictions may apply) |
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| This is typical of a basic level disability contract. | |
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| Product Overview | Provides inexpensive basic accident + sickness coverage across a spectrum of Business Owners and Individuals. |
| Target Markets | Industrial trade workers seeking an add-on to WSIB coverage, New Business Owners, hard-to-insure Occupations, Seniors and Unemployed Individuals, Children as young as age 5. |
| Premium Structure | Guaranteed Renewable to age 90. Premium can change on all policies by risk classification. i.e. by age, plan, province, amount, occupation or any combination of these. Only one change can be made in any 12 month period. |
| Issue Ages | Ages 5 to 80. (age last) |
| What Triggers Payment of Benefits? | Unable to perform regular occupation (2 yrs) and any occupation thereafter. If unemployed - unable to do most of his or her routine daily activities. |
| When Does Payment Begin? |
Accident - 0, 30 and 120 day elimination periods.
Sickness - 15,30 and 120 day elimination periods.
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| How are Benefits Paid? | Monthly benefits payable during the selected benefit period while disability lasts 2 yrs, 5 yrs or to age 65 |
| Benefit Maximum | $500 for applicants in the "Limited Benefits" category (unemployed, retired, high risk occupations). Otherwise, the lesser of $ 4,000 or 75% of insurable monthly income, rounded down to the nearest $100 |
| Standard Benefits |
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| Optional Riders (age restrictions may apply) |
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