CLHIA-ACCAP - Consumer Information

A guide to disability insurance

Issue link:

Contents of this Issue


Page 17 of 20

QUESTIONS TO ASK ABOUT YOUR DISABILITY COVERAGE Group or association coverage: • If you change employers or leave the association, can you convert to an individual plan without medical evidence of insurability? • Under what circumstances can the plan be cancelled? • Are benefits reduced as you grow older? • Will you be covered during a strike or leave of absence? • How long will the plan remain in place? • Is it an insured plan or an Administrative Services Only (ASO) arrangement? • Is renewal in the plan guaranteed? Will evidence of good health be required? • Is the price schedule guaranteed? If not, do you know how much the cost could increase? Individual coverage • Are benefits paid if you can work but not at full speed? • If you are self-employed, can the plan be set up to pay your deferred income taxes and/or cover other business expenses? • Are there options designed to help you meet other financial objectives such as saving for retirement? • Is there a refund of premiums offered after you've been a member of the plan for a specified period of time but haven't submitted a claim? 15

Articles in this issue

Links on this page

view archives of CLHIA-ACCAP - Consumer Information - A guide to disability insurance