Howard-Jones Insurance Services Inc.

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Long-term Disability

Peter Howard-Jones

This benefit provides regular monthly income for longer periods of total disability. Benefits are usually payable for up to 24 months to insureds who are unable to perform substantially the whole duties of their regular jobs. Beyond 24 months, benefits continue to individuals who, because of their disability, can not work in any gainful occupation for which they are or may reasonably become qualified for.

Benefit Cost Tax Deductible to Employer? Employer Contributions Taxable to Employee? Employee Contributions Eligible for Tax Deductions or Credit? Benefit Taxable When Received?
Accidental Death & Dismemberment Yes No* No No
Group Life Insurance Yes Yes No No
Short-Term Disability Yes No No Yes/No**
Long-Term Disability Yes No No Yes/No**
Extended Health Care Plan Yes No* Yes No
Dental Plan Yes No* Yes No
Employee Assistance Plan Yes No No No
Registered Pension Plan Yes No Yes Yes
Registered Retirement Savings Plan N/A N/A Yes Yes
Deferred Profit-Sharing Plan Yes No N/A Yes
Canada/Quebec Pension Plan Yes No Yes Yes
Retirement Compensation Arrangement Yes No Yes Yes
WSIB Benefits Yes No N/A No
Employment Insurance Yes No Yes Yes
Provincial Health Plan Yes Yes No No

* Yes for Quebec

** Yes, if any part of the short-term or long-term disability premium is paid by the employer. No, if the entire short-term or long-term disability premium is paid by the employee. Where the costs of the short-term or long-term disability plan are shared between employer and employee, the employee is entitled to receive benefits equal to his/her contributions on a non-taxable basis.

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