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Income Protection Disability
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Income Protection Disability Insurance
for Costco Business and Gold Star members

Imagine what would happen if you lost your most important asset: your ability to earn an income. How would you pay for your mortgage, your groceries, utility bills and other expenses?

You can add Income Protection Disability Insurance to your Term Life Insurance plan. With this addition, if you were seriously injured or ill and unable to work, you would be eligible to receive benefits that could help you maintain your family’s standard of living.

Choose the coverage you need to help replace your income if you are totally disabled, up to $5,000 a month* until age 65.

Following a period of total disability, you may still be able to receive benefits if you remain partially disabled, up to $2,500 a month for up to 6 months.

Here's what you can get:

  • Flexible coverage options. Depending on the nature of your work, you can choose to receive benefits for up to 5 years or up to age 65. You can also choose a waiting period of 90 or 120 days. This is the amount of time you’ll wait after you become disabled before you start to receive benefits. Tip: The longer the waiting period, the lower your premiums.
  • Optional Cost of Living Adjustment (COLA). This automatically increases your benefit to account for increases in the cost of living. Following at least 12 months of continuous Total Disability, your Total Disability benefit will be automatically increased 3% each year, compounded annually. Depending on the nature of your work, you may apply for COLA. This option is available to you before age 51 with benefits payable to age 65.
  • Automatic Waiver of Premium included at no extra cost. If you become disabled, you won't have to worry about making the payments for your Income Protection Disability Insurance. The premiums will not be charged for as long as you receive disability benefits under this plan.
In the following table of Income Protection Disability Insurance Benefits, "Class 1" occupations are professional, technical or managerial and generally restricted to office duties. Also included are supervisory, other skilled clerical occupations and skilled technical occupations. "Class 2" occupations include those consisting of light manual work of a non-hazardous nature.

Income Protection Disability Insurance
Benefits at a Glance
Occupation Type
Total Disability Monthly Maximum
Total Disability Duration
Partial Disability Monthly Maximum
Partial Disability Duration
Optional Cost of Living Adjustment
Class 1
Up to $5,000
To age 651
50% of Total Disability Benefit
Up to 180 days
3% compounded annually
Class 1
Up to $5,000
Up to
5 years
2
50% of Total Disability Benefit
Up to 180 days
Not available
Class 2
Up to $3,500
Up to
5 years
2
50% of Total Disability Benefit
Up to 180 days
Not available
1 If benefits begin after Age 63, they will be payable for up to 24 months.
2 If benefits begin after Age 62, they will be payable up to Age 67.

IMPORTANT DETAILS:

Disability definitions

Eligibility

Limitations and exclusions

Get a free quote & apply online, check the rates or download an application today!


* Coverage up to $5,000 a month is only available to Class 1 workers.

The Income Protection Disability Insurance plan for Costco members is only available to Costco members. If you are not a Costco member, visit your local Costco warehouse for information on how you can become one.




If you need assistance, call Manulife Financial toll-free today at 1 866 350-6669, Monday through Friday from 8 a.m. to 8 p.m. ET
or e-mail am_info@manulife.com.


Coverage underwritten by The Manufacturers Life Insurance Company (Manulife Financial)

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