Disability income

Short Term Disability Income Benefits

This plan provides short-term disability benefits for periods of three months, six months or one year.

If the disability is caused by an accident, benefits are paid from the first day of injury. If the disability is caused by illness, benefits are usually paid from the eighth day of disability.

The plan will pay up to 75% of the employee's weekly salary as long as the employee is disabled, up until the expiration of the benefit period, whichever comes first.

Long Term Disability

The plan can be purchased on its own, or to supplement short-term disability benefits. Long Term Disability provides for the continuation of up to 75% of the employee's salary should the employee remain disabled after the initial period of disablement, usually three or six months. This is referred to as the Elimination Period.

The Elimination Period is usually designed to tie in with your company's salary continuation plan for disabled employees, or with your Short Term Disability Plan. Benefits are paid until the benefit period expires, until age 65 or discontinuation of the disability whichever is earlier. Benefit periods range from 2 years, 5 years, 10 years or up to the time the employee reaches age 65.

Cost of Living Adjustment Factor (COLA)

Many of our plans contain a COLA factor which provides for the monthly disability benefits to be increased each year by the Consumer Price Index, subject normally to a maximum of 4% per annum.

Termination of Insurance

Disability Insurance protection terminates either:

• At the termination date of employment of the employee,
• Upon cancellation of the policy, or
• At age 65 years.

Evidence of Insurability

Evidence of good health may be required for certain employees. Any necessary medical examinations or tests required by BF&M Life will be paid for by us.

Group Life

The purpose of a company-sponsored life insurance plan is to provide the employee's family with a death benefit equivalent to one, two or three times (or higher) the employee's annual salary. This benefit gives the family time to grieve without the additional worries of meeting financial obligations.

Evidence of good health may be required on certain employees depending on the size of the group and the sums assured.

Accelerated Death Benefit

Our group Life plans allow for a partial payment of death benefits if the employee is not expected to live beyond a 12-month period.

Accidental Death & Dismemberment Benefits (AD&D)

This benefit is written in conjunction with Group Life. It provides additional protection if death is caused by accidental means.

The coverage is written on a 24-hour basis, which means work-related accidents are covered. In addition to the lump sum payment in the case of death, various benefits are payable in the event of a loss of a limb or of eyesight, or loss of use caused by paraplegia, quadriplegia and hemiplegia.

For more information, please call BF&M.