09/20/2024
**ATTENTION PROVINCIAL GOVERMENT EMPLOYEES**
Over the past 7 years, your group long-term disability (LTD) rates have increased by approximately 73%. As an employee paying these premiums to keep your benefits non-taxable, it's important to review your coverage options to ensure you are getting the best value for your money.
Depending on your plan, your group coverage may potentially be a one-year regular occupation definition, at which point it changes to any occupation. Lets say for example, you unfortunately become disabled and are unable to perform your regular job as an RN. You will collect your benefit for one year, at which point the definition changes to any occupation and you could be told that you will no longer receive your benefit because while you are still unable to work as a nurse (your regular occupation), you can work in some other capacity (any occupation, as long as it pays you 60% of your pre-disability earnings).
This is not ideal.
Individually owned disability plans generally offer regular occupation to age 65 so there is never a definition change, so we take away that concern by never changing the definition of disability from regular occupation to any occupation.
By considering an individually owned policy through an independent agent like myself, you can secure personalized coverage tailored to your needs. Additionally, many carriers offer exclusive discounts for provincial government employees.
You can contact me at [email protected] or phone our office at 709-753-7424 to take control of your benefits and explore your options!
