An accident can change your life – and your plans – in an instant. You may be expecting to pay off your mortgage, send your kids to college and retire in comfort. But if you suffer a sudden illness or accident, and lose your ability to earn an income, you can lose everything you’ve worked for.

CREA endorses this plan to help you protect your income – and everything that your income makes possible. With CREA Income Protection Disability Insurance, the possibility of losing your income due to a disabling accident or illness can be just another event you have planned for. This comprehensive group policy lets you:

  • Apply for a monthly benefit of up to 50% of your monthly earned income,1 to a maximum monthly benefit2 of $5,000
  • Add an optional Cost of Living Adjustment (COLA) to help offset the impact of inflation on your benefits
  • All at low group rates exclusive to REALTORS®

Note: Member must be insured under the Term Life plan to apply for Income Protection.

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Still have questions?

Call a Licensed Insurance Advisor at 1-800-668-0195
(Monday – Friday 8am - 8pm ET)

or e-mail us at am_info@manulife.com

Total disability

  • If sickness or injury prevents you from performing the normal duties of your occupation, and you have no other gainful employment, you are considered Totally Disabled.
  • After the first 24 months of disability, if you are unable to perform any type of gainful occupation for which you have training, education or experience, your benefits will continue
  • If you lose the use of two of your limbs, or suffer from total loss of sight, hearing or speech, you will also be considered Totally Disabled – even if you remain gainfully employed
  • If Total Disability results from a mental or nervous disorder, benefits are payable up to a maximum of 24 months.

Partial disability

  • When you have just finished receiving Total Disability benefits, but sickness or injury prevents you from working at least 50% of your normal work day in your regular occupation, you are considered Partially Disabled.
  • Partial Disability payments are equal to 50% of the benefit you received during your last month of Total Disability, and can continue for as long as six months.

Rehabilitation

  • If you are receiving Total Disability benefits and you enter into a rehabilitation program supervised by your physician, payments continue for up to 24 months.
  • If you receive any monthly remuneration during rehabilitation, benefits are reduced by 50% of the remuneration amount.

Waiting period

  • The waiting period is the length of time you must wait before benefits become payable.
  • According to your individual needs, you can choose a waiting period of 60, 90 or 120 days. 
  • You must be under the care of a qualified physician to receive benefits.
  • Disabilities from self-inflicted injury, insurrection or war, voluntary involvement in a criminal offense and uncomplicated pregnancy or childbirth are not covered.
  • Psychoneurotic disorders are covered for up to two years.

NOTE: If you plan to be outside Canada or the U.S. for more than six months, contact Manulife for approval to continue your coverage.

Members must be:

  • A resident of Canada, less than 60 years of age;
  • A member of the Canadian Real Estate Association (CREA) and be licensed as a real estate agent/broker or salesperson for a minimum of one year, or an employee of a CREA member, or an employee of a Real Estate Board or Association working a minimum of 25 hours per week; and
  • Insured as a member under the Term Life plan.

Coverage terminates if you cease to qualify as a member of the Canadian Real Estate Association (CREA).

Rate advantages

Save more if you choose to have benefits paid for up to five years.

If you choose Plan B, for a maximum benefit period of five years, you pay rates that are up to 29% less than if you choose Plan A.

Save even more if you choose a longer waiting period.

If you choose to have benefits begin after 90 days or 120 days of disability, you pay rates that are up to 41% less than if your benefits are to begin after 60 days.

Monthly premiums, per $100 unit of monthly benefit

  • Maximum coverage is 50 units ($5,000 a month)
  • Minimum coverage is 5 units ($500 a month)

To determine your payment, find the rate below that corresponds to your age and chosen Waiting Period, then multiply it by the number of $100 units of monthly benefit you are eligible for.

Income Protection Plans rates for Plan A – Monthly premiums, per $100 unit of monthly benefit
Age¹ 60-day waiting period 90-day waiting period 120-day waiting period
Under 30 $2.80 $2.10 $1.90
30 to 34 $3.80 $2.90 $2.70
35 to 39 $4.80 $3.60 $3.40
40 to 44 $6.00 $4.40 $3.90
45 to 49 $7.40 $5.80 $5.20
50 to 54 $8.50 $7.00 $6.40
55 to 59 $10.50 $9.00 $8.20
60 to 64 $12.10 $10.60 $9.90
65 to 69 $13.70 $12.10 $11.10
70 Coverage ends Coverage ends Coverage ends

NOTE: Rates are subject to change without notice.

1 Age means the age attained by the applicant as of the Policy Anniversary Date (July 1 of each year). Note that premiums increase with age.

Income Protection Plans rates for Plan B – Monthly premiums, per $100 unit of monthly benefit
Age¹ 60-day waiting period 90-day waiting period 120-day waiting period
Under 30 $2.40 $1.60 $1.40
30 to 34 $3.30 $2.30 $2.10
35 to 39 $4.10 $2.80 $2.40
40 to 44 $5.10 $3.50 $3.30
45 to 49 $6.30 $4.60 $4.10
50 to 54 $7.50 $5.70 $5.10
55 to 59 $9.10 $7.40 $6.80
60 to 64 $11.00 $9.60 $8.50
65 to 69 $13.70 $12.10 $11.10
70 Coverage ends Coverage ends Coverage ends

NOTE: Rates are subject to change without notice.

1 Age means the age attained by the applicant as of the Policy Anniversary Date (July 1 of each year). Note that premiums increase with age.

Income Protection Plans rates for optional – Cost of Living Adjustment (COLA) – Additional monthly premiums, per $100 unit of monthly benefit
Age¹ Additional monthly premiums
Under 45 $0.45
45 and up $0.85

NOTE: Rates are subject to change without notice.

Age means the age attained by the applicant as of the Policy Anniversary Date (July 1 of each year). Note that premiums increase with age.

Earned income means wages, salaries, bonuses, commissions, professional fees, net earnings from self-employment and other remuneration received for personal services actually performed during the period for which computation is being made.

If your existing insurance is less than what you're eligible for based on your earnings, you can top it up to get maximum coverage. You can buy coverage equal to the difference between (1) the benefit provided by your current plan and (2) the additional amounts available through this Disability Income Replacement Plan.

It depends. If your employer currently pays for your coverage under your employee plans, any benefits actually paid to you during a disability leave will be taxable as income (under current tax rules). By paying for your own coverage under this Disability Income Replacement Plan, you can select the additional coverage you want - and any benefits you receive would be tax-free income.

Most employee group disability coverage is not portable; it will end when you are no longer an employee. If you become uninsured in your later years, you may not qualify for individual disability coverage due to your age or deteriorating health. If you purchase coverage under this Disability Income Replacement Plan while you are still employed, you can take this coverage with you if you leave to become self-employed.

Ready to apply for Income Protection?

It's easy and quick to apply for Income Protection Disability Insurance. Simply download and print the PDF application below, fill it out, and mail it to the address found on the application. We'll contact you when your application is processed.

Our 30-day guarantee

If you are not completely satisfied with your coverage, simply return your insurance policy to Manulife within 30 days of receiving it and any premiums paid for the coverage will be promptly refunded.3