"I insured my car, because I couldn't work without one. I insured my home, because it's worth so much. I insured my valuables, because they'd cost a lot to replace. If I'm disabled and can't work, there's no money coming in, so all the other stuff is just pointless. And that's not even considering the extra day-to-day costs of dealing with a disability."
The CPSA Disability Plan is designed to cover a disability caused by an accident or sickness, which causes you to be totally disabled and unable to work. It offers CPSA members:
- Up to $7,500 in monthly benefits (depending on your income)
- Residual (partial) Disability Benefits
- 60 or 119 day Elimination Periods
- Worldwide 24-hour coverage
- Optional annual cost-of-living adjustment rider
And if you pay for CPSA Disability Plan coverage with after-tax dollars, any disability benefits you may receive are tax-free!
Choose benefits of up to $7,500 a month to replace lost income
You can purchase up to $7,500 of benefit per month, depending on your earned income, if you work 25 hours a week in the Sales and Marketing profession and are under age 60. You can choose either a 60 or 119 day elimination period. Coverage also includes a Residual Disability Benefit which pays partial benefits if you return to work, but with a reduced income, after receiving benefits due to Total Disability. As well, you have the option to purchase a Cost Of Living Adjustment (COLA) option.
For even greater protection, you can complement your CPSA Disability coverage with CPSA Accidental Death & Dismemberment Plan coverage, and protect yourself and your family in the event of an accident anywhere around the world, 24 hours a day, 365 days a year!
What's covered
The CPSA Disability Plan is designed to cover a disability caused by an accident or sickness, which causes you to be totally disabled and unable to work. The Plan will pay you a monthly benefit to replace your lost income. Monthly benefit payments will begin following the Elimination Period you have selected (either after 60 days or 119 days). The Elimination Period is the number of consecutive days* you must be Totally Disabled before benefits begin.
* If, due to the same or a related cause, you suffer two successive periods of Total Disability separated by less than 30 consecutive days of full-time employment, the two periods will be considered one period of Total Disability for the purposes of satisfying your Elimination Period.
Total Disability Benefits
To qualify for benefits, you must be Totally Disabled. Benefits are paid for the first 2 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 or experience. At all times, you must be under the care of a physician.
Residual Disability Benefit
You are eligible for Residual Disability Benefits if, after receiving your monthly benefit due to Total Disability:
- you return to your regular occupation on a limited basis, but suffer a loss of income of 20% or more; or
- in the first 24 months after the end of the elimination period, you are unable to return to your regular occupation, but are able to work at another occupation, and as a result, you suffer a loss of income of 20% or more.
Under the Residual Disability Benefit, you receive a portion of your monthly Total Disability Benefit equal to your percentage of lost income. Residual Disability Benefits are payable until age 65 while you remain disabled and are under the care of a physician.
Coverage amounts
Coverage is available in multiples of $100 (of monthly benefits) from $500 to $7,500, depending on your level of Earned Income (your income from any and all occupations after deducting business expenses but before income tax). This Income Ratio Guide will show you the maximum coverage for which you are eligible:
 | Income Ratio Guide | |
Annual Earned Income | NON-TAXABLE Monthly Disability Benefit * | TAXABLE Monthly Disability Benefit * |
$15,000 - $40,000 | 70% of Earned Income | 85% of Earned Income |
$40,001 - 65,000 | 65% of Earned Income | 85% of Earned Income |
$65,001 - 80,000 | 60% of Earned Income | 80% of Earned Income |
$80,001 - 100,000 | 55% of Earned Income | 75% of Earned Income |
$100,001 - 200,000 | 40% of Earned Income | 60% of Earned Income |
$200,001 - 300,000 | 35% of Earned Income | 55% of Earned Income |
$300,001 - 500,000 | 30% of Earned Income | 50% of Earned Income |
* Your Monthly Disability Benefit is your percentage of Annual Earned Income divided by 12.
Low rates exclusive to CPSA members - To see how little this coverage can cost you, refer to our online rate table.
Certain limitations and exclusions apply.
To apply
To apply for coverage under the CPSA Disability Plan, verify that you are eligible, then contact your CPSA authorized insurance representative today.
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