Disability and Impairment Benefits
Both Disability and Impairment Benefits are offered on a capital or monthly income basis, and are assessed on the basis of occupation or severity of impairment, depending on the option selected by the employer.
Capital Disability Benefits
There are two types of Capital Disability Benefits available to the member.
Occupational Capital Disability
- This benefit covers the member against the risk of becoming permanently occupationally disabled, resulting in Own or Reasonable Occupational Disability or Total Disability.
- A 100% benefit is payable and the member retires due to ill-health. The member’s group life benefit will cease.
Progressive Capital Disability
- A comprehensive Capital Disability Benefit that covers the member against the risk of becoming permanently occupationally disabled, impaired or both.
Dread Disease Benefits
Dread Disease Benefits, which must be taken in conjunction with Unapproved Group Life Assurance, provide a lump sum payment on the diagnosis of a stated Dread Disease.
Three Dread Disease Benefit options are available:
Living Plan
- This benefit will allow claims of up to 100% to be paid on diagnosis of a basic classification of a Dread Disease
Progressive Living Plan
- This benefit will allow claims of up to 100% to be paid on diagnosis of a comprehensive classification of Dread Disease.
Progressive Living Plan Plus
- This is the non-accelerated version of Progressive Living Plan. The member’s Death Benefit will not be reduced by the amount of the Progressive Living Plan Plus Benefit paid.