Protect your biggest asset – your ability to earn an income
Disability Income Replacement Insurance gives you an easy, economical way to protect your income – your single most important asset – should an accident or illness keep you from your job. While you are unable to work, the money can be used towards maintaining your family’s lifestyle, covering everyday expenses, paying medical bills and more, so you can focus on your recovery without financial worries.
Engineers Canada-sponsored Disability Income Replacement Insurance helps to replace a portion of your income if you become injured or ill and can't work. It provides monthly benefit payments, based on a percentage of your monthly earnings, while you are disabled and unable to perform your occupation.
Elimination Period is the number of days during which no benefits are payable. After satisfying the elimination period, monthly benefit will be payable to you.
The Disability Income Replacement Plan ensures your income and lifestyle continues uninterrupted with maximum monthly benefit payment up to $15,000.These extra features are included at no extra cost:
- Compassionate Care Benefit
Provides three times your monthly benefit amount in one lump sum if a family member (spouse or child) is injured, or diagnosed with a terminal illness, and has 12 months or less to live.
- Automatic Cost of Living Adjustments Benefit (COLA)
Your monthly benefits will be adjusted according to the annual change in the Consumer Price Index (up to 5%) after 12 consecutive months of disability.
- Future Increase Option Benefit (FIO)
Once insured, you may be eligible to purchase additional disability insurance (up to 15% of your original coverage) without providing proof of good health.
- Waiver of Premium
Your coverage continues at no charge to you while receiving monthly benefit payments if your total disability continues for 3 consecutive months (or the elimination period, if longer).
- Guaranteed Re-Entry
After being insured for 2 consecutive years, if you cancel this plan coverage to join an employer group plan, you can rejoin this program later and reinstate your original coverage – without having to provide proof of good health at time of application – as long as you reapply within 10 years of cancellation and 90 days of leaving the employer group plan, and are under age 55.
- Coverage Between Jobs
If you become disabled within 12 months of your last employment, your benefit payments will be calculated using your average monthly earnings during your most recent 12 months of employment.
- Death Benefit
If you die before age 70 while receiving monthly benefit payments, your beneficiary or estate will receive a lump sum equal to three times your monthly benefit (up to $45,000).
- Conversion Provision
If the contract between Engineers Canada and Manulife terminates, you may be eligible to convert your coverage to a current Manulife individual guaranteed-renewable disability policy, without providing proof of good health at time of application.
- TIP: Do you have disability coverage at work but think it’s not enough?
You can top it up by finding the difference between your employer group plan at work and any benefit room available based on your earned income, then purchase Disability Income Replacement Plan to cover that difference to ensure you and your family get the full protection.
|Type of disability||Definition||Benefit|
Paid for as long as totally disabled, and may continue for life if disability is due to an accident, or to age 70 if due to an illness
Pays a percentage of the benefit to age 70 if disability is due to an accident or illness.
Pays 50% of regular benefit for up to six months following a total disability that starts on or after age 60 but before age 70.
Even if able to work, will be considered totally disabled if loses:
Pays total disability benefits for illness whether loss was due to an illness or accident.
If, upon returning to work, becomes total disabled again due to the same illness or accident within six months.
Benefits will resume without having to satisfy another elimination period
|6. Catastrophic loss||
Pays 125% of monthly disability benefit if totally disabled because of a catastrophic loss.
Disability Income Replacement Insurance does not cover:
- self inflicted Injury
- pregnancy, childbirth or miscarriage, except complications thereof;
- war or any act of war, or
- active full-time service in the armed forces of any country or international organization.
- Committing or attempting to commit an assault or criminal offence.
Determining your eligibility
Participation is reserved for members of provincial or territorial associations of engineering professionals.
Eligibility for application is granted to a Canadian resident under age 65, who is:
- A member of the engineering regulators that license the country’s 300,000 members of the profession (including members in training); also, an engineering student who is registered in an engineering program accredited by the Canadian Engineering Accreditation Board;
- A member of the Ontario Society of Professional Engineers or Genium360;
- A member of the Association of Professional Geoscientists of Ontario, Geoscientists Nova Scotia or the Ordre des géologues du Québec;
- A member of one of the participating provincial associations of professional technicians and technologists;
- A member of the Manitoba Association of Architects, the Architects’ Association of New Brunswick, the Nova Scotia Association of Architects or the Architects Association of Prince Edward Island;
- A full-time employee of Engineers Canada or one of the engineering regulators that license the country’s 300,000 members of the profession or one of the participating organizations or of Youth Science Canada; or
- A limited licensee or a provincial licensee.
Step 1: Determine your earned income
This is income earned from your employment or profession, after business expenses but before income taxes. If you have fluctuating income, your average monthly earnings before disability is the greater of: a) your average monthly earnings during your last taxation year, or b) the average of the previous 24 months
Step 2: Check the maximum benefit amount you can apply for
Use the table below to find your earned income on the left and match it with the maximum monthly benefit available on the right.
|Monthly earned income||Monthly maximum benefit|
|$38,917 and up||$15,000|
Step 3: Find the rates that apply to you
Use the table below to find rates based on each $100 of monthly benefit amount.
Benefit payments begin following the elimination period you choose when you apply – from 7 days up to 365 days. The longer the Elimination Period, the lower your premiums.
|7 days**||14 days||30 days||90 days||119 days||180 days||365 days|
|30 to 34||$2.82||$1.97||$1.63||$1.18||$1.12||$1.03||$0.91|
|35 to 39||$3.20||$2.47||$2.13||$1.74||$1.65||$1.55||$1.38|
|40 to 44||$3.65||$3.08||$2.73||$2.53||$2.42||$2.25||$2.00|
|45 to 49||$4.23||$3.67||$3.33||$3.03||$2.91||$2.72||$2.40|
|50 to 54||$4.98||$4.50||$4.13||$3.42||$3.33||$3.11||$2.73|
|55 to 69***||$5.34||$4.90||$4.52||$3.64||$3.47||$3.21||$2.75|
To calculate annual premiums, divide the monthly premium by 0.09.
* Premiums are subject to change without notice. Premiums increase as you enter a new age bracket.
** Elimination Period is 0 days if hospitalized or if disability results from an injury.
*** Rates for ages 65 to 69 are for renewal only.
The number of days during which no benefits are payable. After satisiying the elimination period, monthly benefit will be payable to you.
Disability benefits could be paid after only 7 days or after an elimination period of 365 days. The longer you wait before beginning to receive disability benefits the lower the premium cost will be.
Disability benefits could be paid out until age 70, and a disability due to an eligible accident or injury will not terminate at all during the lifetime of the insured.
From your employment or profession, after business expenses but before income taxes. If you have fluctuating income, your average monthly earnings before disability is the greater of:
- your average monthly earnings during your last taxation year, or
- the average of the previous 24 months
Your Guarantee of Satisfaction
Manulife wants you to know that you can shop for this coverage with complete confidence, because our first concern is to make sure you are satisfied with your purchase.
Once you receive your Policy or Certificate of Insurance for your Engineers Canada-sponsored coverage, please examine it carefully. If you are not satisfied, contact us in writing to cancel your coverage. We will refund your premiums paid for any new coverage that you cancel within 30 days of receiving your Certificate or Policy.