Long-term disability insurance

You want your firm's partners, sole proprietors and employees to be healthy and working with you. But if an accident or illness keeps them from working, it's a relief to know they'll have a financial safety net to help support them.

Long-term disability (LTD) insurance could help:

Pay the mortgage
Cover expenses
Protect long-term savings

With our plan, the firm can choose to add either basic or enhanced long-term disability insurance coverage to its insurance program. The plan must include everyone in the firm and, in some cases, plan members will have to give proof of their good health. Firms and sole proprietorships can choose not to have coverage under this insurance if they are already covered under the Chartered Professional Accountants of Ontario’s Individual Income Protection Plan.

Coverage details

	Basic	Enhanced
Benefit level	50% of member's monthly earnings	60% of member's monthly earnings
Maximum	$2,500 per month	$5,000 per month
Cost of living adjustment	None	Lesser of consumer price index or 3%
Qualifying period	120 days Member must be receiving regular, ongoing care and treatment from a physician during the qualifying period for benefits to be payable at the end of the qualifying period
Offsets	Workers’ Compensation or similar coverage; Canada or Quebec Pension Plans, including dependant benefits; and any government motor vehicle automobile insurance plan or policy, unless prohibited by law
Non-evidence maximums	2 to 4 people - all amounts of insurance are subject to evidence of good health 5 to 9 people - evidence is required for amounts in excess of $1,500 10 to 24 people - evidence is required for amounts in excess of $2,500 25 people or more - evidence is required for amounts in excess of $3,000
All-source maximum	Partners and sole proprietors who are covered under CPA Ontario's member LTD Plan: 100% of pre-disability monthly earnings All other employees: 85% of pre-disability monthly earnings
Maximum age of eligibility	Up to the 65th birthday of the insured
Termination of benefit	The earliest of the following to occur: attainment of age 65 (less the elimination period), retirement, or termination of employment

Learn more

Download brochure

For a quotation and enrollment information

Call 416-493-5586 or email bclewes@clewesconsult.com

Long-term disability insurance