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Key Benefits To Secure Your Family's Future


Choose REALTORS®
Income Protection
disability insurance
to safeguard your
biggest asset:
your earning power

You're looking forward to paying off your mortgage, sending your kids to college and retiring in comfort. But then you suffer a sudden illness or accident, and realize that without your ability to earn an income, you can lose everything you’ve worked for.

That’s why the Canadian Real Estate Association (CREA) endorses this Plan to help you protect your income – and everything that your income makes possible. With CREA Income Protection disability insurance, you can now plan for the possibility of losing your income due to a disabling accident or illness. This comprehensive group policy, available exclusively to REALTORS®, offers you a way to protect your family's financial future, if you become sick or suffer an accident that erodes your earning power.

You can apply for a monthly benefit of up to 50% of your monthly Earned Income,1 to a maximum monthly benefit2 of $5,000, at low group rates exclusive to REALTORS®. If you like, you can add an optional Cost of Living Adjustment to help offset the impact of inflation on your benefits. And whether you suffer from Total Disability or Partial Disability, CREA is committed to offering you insurance coverage to protect your income.

Total Disability: If sickness or injury prevents you from performing the normal duties of your occupation, and you are not otherwise gainfully employed, you are considered Totally Disabled. After the first 24 months of disability, benefits continue if you are unable to perform any type of gainful occupation for which you have training, education or experience. If you lose the use of two of your limbs, or suffer from total loss of sight, hearing or speech, you will also be considered Totally Disabled even if you remain gainfully employed. If Total Disability results from a mental or nervous disorder, benefits are payable up to a maximum of 24 months.

Partial Disability: If you just finished receiving Total Disability benefits, and a sickness or injury prevents you from working at least 50% of your normal work day in your regular occupation, you are considered Partially Disabled. Partial Disability payments are equal to 50% of the benefit you received during your last month of Total Disability, and can continue for as long as six months.

Rehabilitation: If you are receiving Total Disability benefits and you enter into a rehabilitation program supervised by your physician, payments continue for up to 24 months. If you receive any monthly remuneration during rehabilitation, benefits are reduced by 50% of the remuneration amount.

According to your individual needs, you can choose a waiting period of 60 days, 90 days or 120 days. This waiting period is the length of time you must wait before benefits become payable. You can also select the maximum period during which you will be paid benefits with your choice of two benefit plans:

PLAN A:
Benefits are paid up to a maximum of age 70
If you have been a licensed real estate agent/broker or salesperson for the past two years with an average Earned Income of $25,000 per year, this plan is for you. Benefit payments start after your chosen waiting period expires. If you become Totally Disabled before age 63, you receive benefits until your total disability ceases or you reach age 65. If you become Totally Disabled between the ages of 63 and 70, you receive benefits for up to 24 months.

PLAN B:
Benefits are paid up to a maximum of five years
This plan is specially designed for Members who have been licensed for at least one year, and for employees of Real Estate Boards or Associations who work a minimum of 25 hours a week. Benefit payments start after your chosen waiting period expires. If you become Totally Disabled before age 63, you receive benefits until your Total Disability ceases or until the end of your fifth year of disability, whichever comes first, but benefits will cease at age 65. If you become Totally Disabled between the ages of 63 and 65, you receive benefits for up to 24 months.

Optional Cost of Living Adjustment
For your added protection, the CREA Income Protection Plan offers an extremely affordable Cost of Living Adjustment (COLA) to ensure that your benefit payments are not eroded by inflation. Each January 1st during your disability, provided you have received benefits for the preceding six months, your monthly benefit will be adjusted according to the Consumer Price Index Factor, to a maximum increase of 8% a year. If chosen, the COLA applies to each unit of Income Protection insurance you have.


Limitations: You must be under the care of a qualified physician to receive benefits. Disabilities from self-inflicted injury, insurrection or war, voluntary involvement in a criminal offense and uncomplicated pregnancy or childbirth are not covered. Psychoneurotic disorders are covered for up to two years. NOTE: If you plan to be outside Canada or the U.S. for more than six months, contact Manulife for approval to continue your coverage.

Eligibility: Any applicant must be a resident of Canada and less than 60 years of age. To apply for Income Protection coverage, you must be licensed as a real estate agent/broker or salesperson for at least one year, be a Member of the Canadian Real Estate Association, and be insured as a Member under the Term Life plan. Employees of Members, Real Estate Boards or Associations are eligible if they are working a minimum of 25 hours per week.

We've made it easy for you to get the Income Protection coverage you want by yourself, in the comfort and privacy of your own home or office. Click the following links to get a free personalized assessment of the benefit you are eligible for and get a free quote on the cost, and fill out your application online. You can also download an application that you can print, fill out and mail in.

If you don't have Adobe Acrobat Reader Version 3.01 or later, which is necessary to view and print these .PDF files, you can download it for free from Adobe:

Open a new window on www.adobe.com

If you have any questions about the CREA Income Protection Plan, or need help with your application, please call Manulife toll-free at 1 800 668-0195 Monday through Friday from 8 a.m. to 8 p.m. ET, or e-mail am_service@manulife.com any time. You can also send your request through the Web by clicking here. Please do not include any credit card account numbers in your email message to us.

1 Earned Income means income earned from your employment or profession, after business expenses but before income taxes. If your income fluctuates, use an average amount based on your net income before taxes over the past two years.
2 The benefits you can apply for will be reduced by any other disability insurance in force or applied for (excluding Canada or Quebec Pension Plan benefits), and by any income you continue to receive from your employer or partnership while disabled. If, while disabled, your income and benefits from all other sources (except investment income) exceed 85% of your average Earned Income during the two years before disability, your benefits will be reduced on a pro rata basis.

The Canadian Real Estate Association (CREA) Insurance Plans are underwritten by The Manufacturers Life Insurance Company (Manulife).

All applicants must be resident in Canada. You must be a member of the Canadian Real Estate Association (CREA) and be licensed as a real estate agent/broker or salesperson for a minimum of one year, or an employee of a CREA member, or an employee of a Real Estate Board or Association working a minimum of 25 hours per week in the real estate industry.

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