The public plans in play
Depending on the cause of incapacity, different plans may apply: the public parental insurance plan for a birth or adoption, workplace accident compensation, road accident compensation, employment insurance sickness benefits, and the pension plan’s disability pension.
The cause determines the plan
The same absence from work falls under one plan or another depending on whether it follows a workplace accident, a road accident, an ordinary illness, or a birth. Criteria, waiting periods, and durations differ between plans.
The coordination clause
Most private contracts, group plans especially, reduce their benefit by the amount received from a public plan. The aim is to prevent a disability income above your working income, not to deprive you of money owed.
The timelines do not line up
One public plan may pay after a few weeks, another after several months, and a private contract on its own elimination period. The window your savings must cover sits in those gaps.
Public benefits are capped
Each plan applies a maximum insurable earnings figure, revised annually. Above that cap, the uncovered portion of your income is a matter for private coverage.
Take inventory before buying
Before insuring an amount, establish what your existing plans would actually pay, from when, and for how long. A registered advisor does that inventory; it is what keeps you from paying for redundant coverage.
No rate, price, or recommendation on this page. Amounts and limits change: verify them with official sources before deciding.