Short Term & Long Term Disability
Short Term Disability, or Weekly Indemnity insurance as it is often called, provides Plan Members with protection against short term loss of income due to injury or illness. Your group plan offers Short Term Disability insurance at affordable group rates.
Short Term Disability Insurance can be formulated to match the needs of each participating member Group. Features of your Short Term Disability program include:
Short Term Disability Insurance Rates...
Rates for Short Term Disability Insurance are based on each group's own demographic content and financial experience.
The volume purchasing arrangement available through the group plan enables members to obtain competitive rates for this benefit.
This program is designed to protect your single most valuable asset – your ability to earn an income. And if you pay for this coverage with after-tax dollars, any benefits you receive are tax free!
Participating groups can design their own Long Term Disability plan and determine the level of income replacement offered to Plan Members. Benefits commence after 17 weeks of disability, or at the expiration of the Short Term Disability plan, where applicable.
Features of the Long Term Disability program include:
Long Term Disability Insurance Rates...
The premium rate for Long Term Disability Insurance considers both the demographic and financial results of the entire Long Term Disability pool and your individual group.
By joining the Long Term Disability program, member organizations are able to obtain cost-effective, flexible protection for their Plan Members.
What you need to know before applying...
This plan is available to Retail Council of Canada (RCC) members and their employees. To apply, you must be under age 65, working full time (at least 20 hours per week) and residing in Canada.
Medical evidence of good health is required when applying for benefits above your group plan’s non evidence maximum for Long Term Disability. You must therefore complete the Health Declaration section on the Application Form. If more information is needed, you will be notified. Coverage becomes effective on the first of the month following the approval of your application.
Short Term and/or Long Term Disability Benefit Tax Status...