Employment Insurance Benefits

• Business owners are not eligible
• Short-term benefits lasting up to 15 weeks
• Benefit amount: 55% of gross income to a maximum of $423 (taxable) per week
• Integration - this offset or deducted from other coverage's (group and individual)

Worker's Compensation

• Provides on-the-job protection
• It may be difficult to assess whether sickness claims are direct cause of work environments
• Rehabilitation is mandatory

Canadian Pension Plan

• Four (4) month waiting period
• Maximum benefit is $1,053.77 per month
• Disability must be "severe and prolonged" and must prevent you from being able to work at any job on a regular basis

Group Disability Plan

• Coverage is not portable
• Limited or no optional benefits
• Covers T4'd income only; company profits, income splitting and bonuses are generally not covered 
• Definition of disability may be more restrictive (2 year "regular occupation" and switches to "any occupation" thereafter)

Individual Disability Plan

• Coverage is portable
• 24-hour coverage against injury and sickness
• Premiums and benefits are guaranteed to age 65
• Flexible start dates, benefit periods and optional riders 
• Partial and residual benefits can be included
• Definition of disability can be more liberal ("Regular Occupation" to age 65 and "Own Occupation")

Downloads

Sources of Disability Benefits