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Long Term Disability Insurance

Long Term Disability Insurance

CHF Canada’s Long Term Disability (LTD) program provides protection against an extended loss of income due to injury or illness. This benefit is designed to integrate with CHF Canada’s Short Term Disability, Employment Insurance Benefits, or temporary salary continuance that your co-op provides to employees if they are disabled or sick.

The taxability of any LTD benefit received by a disabled employee is determined by whoever initially paid the premiums for the coverage. If the employee pays 100% of the premium, then any eventual benefit payment will not be taxable to the employee if the employee is disabled. If the employer pays any portion of the LTD premium then any benefit received is taxable.

Features of the Long Term Disability benefit:

Long-Term Disability66.7% of monthly salary
  • Co-ops with 3 or more employees
Amounts up to $2,780 are guaranteed; only amounts over $2,780 require proof of good health by completing the Co-operators’ Group Health Evidence Questionnaire
  • Co-ops with 1 or 2 employees
All Amounts of coverage require proof of good health by completing the Co-operators’ Group Health Evidence Questionnaire

The disability definition is commonly based on the ‘12-month own occupation’ definition. This means that the employee is disabled from his or her own occupation during the first 12 months of disability and thereafter is disabled for any occupation that is suitable by virtue of past training, education or experience. Some restrictions apply with respect to pre-existing medical conditions.

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Note: The Employee Family Assistance Program benefit will be available to all employees and their dependents, regardless of option selected.

This summary is intended to provide a brief description of the benefits available under the CHF Canada group insurance program. This material does not create or confer any rights. The exact terms and conditions of your benefits are outlined in the applicable group benefits agreements or policies. Some restrictions and/or limitations may apply to all benefits mentioned above.

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