The CPSA Disability Income Insurance Plan is designed to pay you a monthly benefit to replace your lost income if you become Totally Disabled and unable to work. Monthly benefit payments will begin following the Elimination Period you have selected (after either 60 days or 119 days). The Elimination Period is the number of consecutive days* you must be Totally Disabled before benefits begin.
Total Disability Benefits
To qualify for benefits, you must be Totally Disabled. Benefits are paid for the first two
years of your disability so long as you are unable to perform the essential duties of your own occupation.
After this two-year period, your monthly benefits will continue until age 65 so long as you are unable to perform the duties of any occupation for which you are reasonably suited based on your education, training and/or experience. At all times, you must be under the care of a physician.
Residual Disability Benefits
If you become Partially Disabled immediately following a period of Total Disability, you will receive a Residual Disability benefit for as long as you remain Partially Disabled.
Residual Disability benefits are payable and calculated from the date you are no longer receiving a monthly benefit due to Total Disability. Benefits are payable if you are under age 65, under the regular care of a physician and you experience a loss of income of at least 20%.
You must provide satisfactory evidence of continuing disability and reduced income. Under the Residual Disability Benefit, payments for part of a month shall be calculated at the rate of 1/30th of the benefit payable multiplied by the number of days you were Partially Disabled during the month.
For even greater protection, you can complement your CPSA Disability Income Insurance Plan with the CPSA Accidental Death & Dismemberment Plan, and protect yourself and your family in the event of an accident anywhere around the world, 24 hours a day, 365 days a year!