| This is typical of an intermediate level disability contract. |
Product
Overview |
Provides cost-effective protection against total disability, with optional partial or residual benefits. Built-in discounts for business owners. |
Target
Markets |
Small business owners and employees who want affordable and reliable income protection.
|
Premium
Structure |
Level, guaranteed to age 65. Guaranteed renewable after age 65 to age 75 if insured continues to work full-time (subject to change in premiums).
|
Issue
Ages |
18 - 60
(age nearest) |
| What Triggers Payment of Benefits? |
Total disability due to injury or sickness (plus partial or residual disability if the respective rider is added).
Total: during regular occupation period, inability to perform the substantial duties of the regular occupation and not working elsewhere. After regular occupation period, inability to work in any reasonable occupation.
Regular Occupation Period: normally 5 years (2 years with 2-year benefit period). May be extended to age 65 (except for farm owner, part-time workers, some class B occupations and short benefit periods). |
| When Does Payment Begin? |
After selected elimination period from onset of disability:
30, 60, 90, 120 or 730 days
However, farm owners may not select 30-day elimination period and part-time workers may not select 30 or 60-day elimination period. |
| How are Benefits Paid? |
Monthly benefits payable during the selected benefit period while disability lasts:
2 or 5 years, or to age 65* |
Benefit
Maximum |
Same as Proguard Series for class 4S/4A/3A/2A. For classes A and B as follows:
| Class |
Ages 18 - 55 |
Ages 56 - 60 |
| A |
$ 5,000 |
$ 3,500 |
| B |
$ 3,500 |
$ 2,500 |
|
Standard
Benefits |
- Waiver of premiums after 90 days or elimination period if less
- Recurrent disability (6 months)
- Vocational rehabilitation
- Non-occupational disability
- No integration of benefits for 4A/3A
- Liberal integration of benefits for 2A/A/B
- Accumulation of days for elimination period (12 month separation - 6 months for 2A/A/B)
- Automatic coverage enhancements of 3% annually
- Assumed total disability with 0-day elimination period
- Sale of business benefit
|
Optional Riders
(age restrictions may apply) |
- Premium Refund Rider (PRR)
- Additional Insurance Rider (AIR) - guaranteed insurability to age 55 (N/A for class B)
- Cost of Living Adjustments (COLA) 5%
- Own Occupation (4S/4A)
- Health Protection Rider (HPR) - Standard or Enhanced covering HIV, HepB and HepC
- Pensionguard
- Partial Disability Rider (PDR)*
- Extended Partial Disability Rider (EPDR)*
- Residual Disability Rider **
|
