Disability Income Replacement Plan
If a disabling illness or accident left you unable to work, how long could you continue to meet your financial responsibilities? Not only could your paycheque stop and your savings dry up, but you may find yourself burdened with extra medical and home care expenses with no way to pay for them.
That's why Engineers Canada sponsors this essential protection for your most valuable asset — your income. This affordable disability insurance plan can provide you with a generous monthly benefit to replace lost income if a serious illness or accident keeps you from making a living.
|Extra features at no extra cost|
|Unique features make this coverage more valuable:|
|How benefits are paid|
|This comprehensive Plan covers you for 6 types of disability:|
NEW! Enhance your existing group disability plan
|Determine the benefit amount you can apply for|
The Plan provides a monthly benefit payment while you are disabled and unable to perform your occupation. Choose coverage from $500 up to $10,000 in monthly benefits, based on a percentage of your monthly earnings, as follows: more...
Take 70% of your first $5,000 of monthly earned income plus 30% of your monthly earned income in excess of $5,000, rounded to the next highest $100, to a maximum of $10,000.
Let us calculate your maximum monthly benefit amount for you, or determine it yourself using the following table.
Monthly Earned Income
Non-taxable Monthly Benefit
(rounded up to the nearest $100)
$26,665 & up
The monthly benefit maximum of $10,000 provides non-taxable income replacement on annual pre-tax Earned Income up to $320,000.
Benefit payments begin following the Elimination Period you choose when you apply — from 7 days up to 365 days. The longer the Elimination Period, the lower your premiums.
|If you're covered under an employee group disability plan but it isn't giving you the coverage you need, you can 'top up' your coverage by adding Disability Income Replacement Insurance equal to the difference between the benefit your current plan provides and additional amounts available based on your earnings. more...|
You can also purchase full coverage regardless of any employee group disability plan you have in place. Benefits you receive during a disability would be offset (reduced) by the benefits payable from your existing group disability insurance. If you are worried about the quality of your current group disability coverage or want the security of owning your personal, portable Disability Income Replacement Plan, now is the time to apply.
|All applicants must be resident in Canada and under 65 years of age. The following individuals are eligible to apply: more...|
No family coverage is offered under the Disability Income Replacement Plan.
- Members of the 12 provincial and territorial engineering licensing associations, including members in training. Also, student engineers who are members of a student section (in those associations where a student section exists) and who are within 24 months of expected graduation from a program accredited by the Canadian Engineering Accreditation Board.
- Members of the 8 provincial associations of technicians and technologists.
- Members of l'Ordre des Géologues du Québec.
- Members of the Association of Professional Geoscientists of Nova Scotia.
- Members of the Association of Professional Geoscientists of Ontario.
- Members of l'Ordre des architectes du Québec.
- Members of the Manitoba Association of Architects.
- Members of Newfoundland Association of Architects.
- Members of the Architects' Association of New Brunswick.
- Members of the Nova Scotia Association of Architects.
- Members of the Architects Association of Prince Edward Island.
- A full-time employee of Engineers Canada, or of one of Engineers Canada provincial/territorial constituent associations/ordre, or of one of the participating organizations, or of Youth Science Foundation Canada.
- Limited licensees.
For more information, please read our case study and frequently asked questions.
|Limitations and exclusions|
Your insurance does not cover:
- self-inflicted injury, while sane or insane;
- war or any act of war;
- active full-time service in the armed forces of any country or international organization, or
- committing or attempting to commit an assault or criminal offence.
Your authorized insurance representative is always ready to discuss this Plan with you, to help you determine what coverage best suits your needs and to help you complete your application. You can get in touch with your local representative today.