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Glossary (I to L)
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[I]

Income Replacement
Your individual disability insurance plan pays you a regular income each month during your disability. Your basic coverage and premiums are linked to your occupation, income and other sources of insurance at the time of application.

   

For group insurance, benefits are based on the premiums paid as well as on your salary and other income benefits payable. Please note, under most group insurance plans, other income such as Canada Pension Plan, are offset from the disability benefit payment.


[J]

Joint-First-To-Die
The case in which two lives are covered, with the insurance amount paid when the first death occurs.

Joint-Last-To-Die
The instance in which two lives are covered, with the insurance amount paid when the last death occurs.

[K]

[L]
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