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Engineers Canada Disability Income Protection
Articles and answers about Engineers Canada Disability Income Protection.
Articles about Engineers Canada Disability Income Protection
- Disability insurance6 minute readNavigating your return to work with the Manulife Engineers Canada disability insurance planLearn how to navigate disability claims and return to work smoothly with essential insights for those covered by the Engineers Canada Disability Income Protection plan (underwritten by Manulife).
- Disability insurance6 minute readUnderstanding the Future Increase Option (FIO): Manulife Engineers Canada disability planEverything you need to know about the Future Increase Option (FIO) in the Engineers Canada Disability Income Protection plan (underwritten by Manulife).
- Disability insurance6 minute readUnderstanding the Guaranteed Re-Entry Provision (GRE): Manulife Engineers Canada disability planA unique and valuable feature for those who own the Engineers Canada Disability Income Protection plan (underwritten by Manulife).
Questions about Engineers Canada Disability Income Protection
What is the waiting period?
It’s the number of days you must be disabled before benefits start. You choose it when you apply, from 7 to 365 days, and a longer waiting period means a lower premium. It counts from your first doctor’s visit for the disability, and days off for the same cause within 12 months add up toward it.
When will disability benefits be paid?
Once your waiting period ends. You choose it when you apply: 7, 14, 30, 90, 119, 180 or 365 days. Benefits are paid monthly, at the end of each month, and the first payment is made within 31 days of an approved claim.
When will disability benefits end?
For a total disability caused by an illness, benefits can be paid to age 70. For a total disability caused by an accident, they can continue for life. Residual disability benefits are paid to 70 at most, whatever the cause.
What is “earned income”?
From your employment or profession, after business expenses but before income taxes. If you have fluctuating income, your average monthly earnings before disability is the greater of:
- your average monthly earnings during your last taxation year, or
- the average of the previous 24 months
Do I need this if I have disability coverage at work?
It depends on how much your workplace plan replaces. Workplace plans often replace less of your income than people expect, and they usually end when you leave the job. This plan can top up the gap between what your employer’s plan pays and what your earnings qualify for, and it stays with you if you change jobs. We can work out the gap with you.
Are Engineers Canada disability benefits taxable?
Generally not, when you pay the premiums yourself. If a business pays or deducts the premiums, the benefits are taxable.
A question about your coverage? Ask us.
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