Howe Sound
BENEFIT: Long Term Disability + Optional Life
BENEFITS PROVIDER: Desjardins
POLICY #: 647227
SD48-Principals & Vice-Principals
Long Term Disability Benefit
Percentage & Maximum of Benefit:
60% of the first $7,500 of gross monthly Earnings and 50% of the balance, rounded to the next $1, if not already a multiple, up to a maximum of $10,000.
Non-Evidence Maximum of Insurability:
$10,000
Elimination Period:
117 calendar days or expiration of benefits under the Employer’s sick leave plan to a maximum of 120 sick leave days, whichever is later.
Maximum Benefit Period:
The date the Participant is eligible for a full unreduced pension, or the end of the month in which the Participant reaches age 65 or 35 years of pensionable service, less the Elimination Period, or retirement, whichever is earlier.
Benefit Termination
Age Limit:
The date the Participant is eligible for a full unreduced pension, or the end of the month in which the Participant reaches age 65 or 35 years of pensionable service, less the Elimination Period, or retirement, whichever is earlier.
Optional Life Insurance Benefit
Amount of Insurance:
Any multiple of $10,000 up to a maximum of $300,000
Benefit Termination
Age Limit:
Age 70 of the participant, or retirement whichever occurs first
Dependent Optional Life Insurance Benefit
Amount of Insurance:
Spouse: Any multiple of $10,000 up to a maximum of $300,000
Each child: Any multiple of $5,000 up to a maximum of $10,000
Benefit Termination
Age Limit:
The participant reaching the age of 70, or retirement whichever occurs first, or the spose reaching age 70.