Income Replacement Coverage

Income replacement coverage provides protection for individuals or groups in case of disability due to illness or injury. You can get coverage from the day the accident happens or add a waiting period to the plan, which will lower the cost. Employment Insurance (EI) can cover an employee for the first 120 days. Durations of coverage for these plans are 2 years, 5 years, or to age 65 or 70.

A Long Term Disability plan starts on the 120th day of disability with durations of 2 years, 5 years, or to age 65 when CPP kicks in.