Life and Disability insurance provides financial security to you and your family if you become seriously injured or pass away.
Providing economic security for your family if you pass away, become disabled, or experience an injury or illness is a major consideration in personal financial planning. As an employee, you automatically receive Basic Life and AD&D coverage in the amount of two times your base salary, up to a maximum of $300,000. This coverage is provided at no cost to you.
You may choose anyone to be the beneficiary of your Life and AD&D policy in the event of your death or serious injury. Review your beneficiary designation periodically to ensure it reflects your current wishes. You may change your beneficiary anytime by logging into your account with Canada Life.
You will have additional coverage for your spouse, child(ren), and other eligible dependents. Wilbur-Ellis provides $10,000 of coverage for your spouse, and $5,000 for your child(ren).
The Short-Term Disability (STD) coverage provides income replacement if you are sick or injured and need time off work. The STD plan provides 75% of your weekly salary, to a maximum of $1,500 per week for up to 17 weeks of disability. Benefits begin on the 0 calendar days for disability due to an injury; or – 7 calendar days for disability due to sickness.
Long-Term Disability (LTD) coverage is important because anyone at any age may become injured or ill for an extended duration. LTD protects you from loss of income in the event you are unable to work due to an illness, injury, or accident for a period of time that exceeds the short-term disability benefit.
LTD coverage will replace 75% of your base salary to a monthly maximum of $6,000 (or $10,000 with medical evidence) if you are disabled for more than 120 days and are unable to work. LTD benefits are taxable as normal income.
This website highlights some of your benefit plans. Your actual rights and benefits are governed by the official plan documents. If any discrepancy exists between this communication and the official plan documents, the plan documents will prevail. Website content was drafted in English and “Google Translate” was used to provide content in French. Translations may not be exact. The company reserves the right to change any benefit plan without notice. Benefits are not a guarantee of employment.
