How long can I remain insured under my current CDSPI LTD plan?
You can maintain your current coverage until age 65. If you’re actively working and not on claim, it can be extended to age 70 at that time — without a medical. The features of your coverage and premiums are not guaranteed.
If you wish to increase your disability coverage, and you don’t have the Future Insurance Guarantee (FIG) Option under your current LTD plan, you will now apply for a coverage increase, with evidence of good health, under the DisabilityGuard™ plan.
Can I switch my current CDSPI LTD coverage to the new DisabilityGuard™ plan?
Yes, you can switch all of your current CDSPI LTD coverage to DisabilityGuard™.
The opportunity to switch your current coverage to the new DisabilityGuard™ plan, without medical questions or tests, is available until July 31, 2017. All current LTD policyholders have been sent switch letters and applications by mail.
After July 31, 2017, you can apply for all of your coverage under DisabilityGuard™ Insurance with evidence of good health. Once your full disability coverage has been approved under the DisabilityGuard™ plan, you can then cancel your existing CDSPI LTD plan.
What happens to my current plan if I choose to increase coverage with DisabilityGuard™ Insurance?
You have the option of keeping your existing LTD coverage and applying for additional coverage under DisabilityGuard™ Insurance with evidence of good health.
If I retain my current CDSPI LTD plan, what happens if I want to make any changes to my elimination (waiting) period, or want to add Options?
If your LTD coverage currently includes the Future Insurance Guarantee (FIG) Option, you can continue to exercise it under your existing policy.
Also, you still have the ability to request administrative changes to this coverage, including increasing the waiting (elimination) period or reducing your coverage amount, as needed. Any additional changes to your coverage such as rate reconsideration, removal of exclusion, or any change that would require medical evidence will be subject to underwriter approval. Just contact us to let us know of any changes that you need.
If you wish to add options, you will apply under DisabilityGuard™ Insurance since the CDSPI LTD plan will no longer be available for increases outside of FIG increases as of January 1, 2017. Evidence of good health is required to increase coverage.
If I have the Future Insurance Guarantee (FIG) Option under my current CDSPI LTD plan, can I increase it yearly, as with the new DisabilityGuard™ plan?
The existing terms of the FIG Option will remain in force under your existing CDSPI LTD plan which allows for increases at ages 25, 30, 35, 40, 45 and 50, or at time of marriage or birth of a child.
Do I still have to pay for the Own Occupation Option under my current CDSPI LTD plan since it’s included in the DisabilityGuard™ plan?
As long as you maintain your CDSPI LTD plan, Own Occupation will continue to be an Option with an additional premium.
We thank you for placing your trust in us to provide your disability coverage. To learn more about DisabilityGuard™ Insurance, or ask questions about your particular situation please contact our advisors.
DisabilityGuard™ Insurance is underwritten by
The Manufacturers Life Insurance Company (Manulife),
PO Box 4213 Stn A, Toronto, ON, M5W 5M3.
The information contained here is a summary only. A full description of DisabilityGuard™ coverage and eligibility, including restrictions and limitations is contained in the certificate booklet, which sets out all the coverage terms and conditions.