Manulife vs. Canadian Chiropractic Association

The information below highlights the features and benefits that each plan offers.

Manulife vs. Canadian Chiropractic Association
  CCA Manulife
Contract Ownership Policy is cancellable and non-guaranteed renewable

Terms and condition can be changed without the consent of the insured member
Policy is non-cancellable and guaranteed renewable
Premiums & Provisions Premium is increased every 5 years with a yearly review

Premium can be changed without the consent of the insured member
Guaranteed to age 65
Own Occupation Rider Yes, benefit is paid if the insured is unable to perform the substantial activities of his/her regular occupation, even if the insured is working in another gainful occupation No, only regular occupation definition is applied

Under regular occupation benefit is paid when the insured is unable to perform the substantial activities of his/her regular occupation and is not engaged in any gainful occupation.
Total Disability Benefit Benefit can be lowered according to your income at claim time as opposed to paying out the full benefit 100% of the benefit will be payable with no income justification
Future Insurability Frequency And Option Amount Future Insurability Option (FIO) is not available ACE: 5% compounded annually increase without medical evidence. 60 days before policy anniversary

AIR: 20% increase every year to keep up with the income up to age 55.

Double up option available at the first purchase

Available up to a maximum of $15,000
Maximum Coverage (Monthly) Up to $7,500 (Covers potential income of up to $255,000) Up to $24,500 (Covers potential income more than $900,000)
Claim Limitation Claims are calculated based on either average monthly income, during the 24-month period prior to disability; or by taking the highest average of the earned monthly income for any 12 consecutive months in the 24-months immediately prior to the month in which the disability commenced. 100% of the disability benefit will be paid upon total disability disregard of the income earned.
Partial Disability Not fully portable Fully portable, you may take it with you throughout your career and job changes.
Long Term Care Conversion Not Available Yes
Return of Premium Not Available Yes
Medical Requirement Yes No
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