Income Protection Benefits. If the Executive is an employee of the Bank or the Company when a Change in Control occurs, and the Executive’s employment is thereafter terminated without Cause either by the Bank or the Company, or by the Executive for Good Reason, or by any party because of the Executive’s death or Disability, then:
Income Protection Benefits. Summary / How to Claim Weekly Indemnity (Non- Occupational) Elimination Period 2 normal scheduled working days for illness Nil for accidental injury Nil when admitted to hospital or an approved medical facility, as an in-patient or out-patient basis for invasive medical procedures/or surgical procedures/treatments. If approved, benefits will begin on the earlier of the first day after the end of the elimination period or the first day of medical attention by a qualified physician Benefit Amount 66% of your pay rate Maximum Weekly Benefit Unlimited Maximum Benefit Period 26 weeks Definition of Disability Own Occupation Recurrent Disability Should you again become disabled from the same or related cause and such disability recurs within one week from the end of the period for which benefits were paid, the elimination period will be waived. All such recurrences will be considered a continuation of the same disability. Taxability of Taxable S. 15.03 209 Claimed Benefit Modified Work Program Applicable Coverage Termination Age 70 or retirement if earlier Cost Fully paid by Xxxxxxx Canada Inc. Long Term Disability Elimination Period 182 days Monthly Benefit Amount 60% of basic pre-disability earnings Maximum Monthly Benefit Amount $2,300 Maximum Benefit Period Age 65 or retirement, if earlier CPP Offset Primary (Benefits payable for claimant only) Privately Owned Insurance Benefit Amount will not be reduced byprivate insurance income Definition of Disability 2 Year own occupation and thereafter, any occupation Pre-Existing Condition Limitation upon becoming insured A “pre-existing condition” means any Injury or Sickness for which you received medical treatment, consultation, care or services including diagnosis, or had drugs or medicines prescribed or had taken prescribed drugs or medicines during the six(6) months prior to the day you becameinsured under the Plan. Taxability of Claimed Benefit Taxable Modified Work Program Applicable S. 15.03 210 Coverage Termination Age 65 or retirement if earlier Cost Fully paid by Xxxxxxx Canada Inc. How to Make a Claim
Income Protection Benefits. Should an employee’s employment terminate before completion of six (6) months of service, the Employer shall recover any money paid to the employee at one hundred percent (100%) benefits. The City shall be deemed to be authorized pursuant to the Employment Standards Act, to make deductions from the employee’s pay cheque in order to recover overpayments made to the employees. Eligibility for one hundred percent (100%) benefits shall be reinstated as of the first pay period of each calendar year. In the event that an employee is in receipt of benefits at years’ end, that employee becomes eligible for benefits payable at one hundred percent (100%) as set out in Section However, in no case is an employee eligible for more than (85) days of benefits for any one continuous period of absence. Occurrence of a Statutory or Declared Holidays during an employee’s absence on shall not reduce an employee’s number of days of benefit eligibility. It is understood that the applicable number of weeks of one hundred percent (100%) salary protection shall be available once in any calendar year. The Employer may require an employee to provide a medical certificate from a qualified medical practitioner stating is fit to return to work before permitting the employee to return to active duty. If, while you are disabled and receiving Sick Leave Allowances, you are served Notice of Layoff or Termination of Employment, you shall nevertheless receive while so disabled, the balance of any of the Sick Leave Allowances to which you are entitled on the date such notice is given to you. You cannot receive Sick Leave payments while you are receiving vacation pay or while you are engaged in any occupation or employment for wage or profit. Sick Leave allowances are not payable during an unpaid leave of Absence or Pregnancy Leave. If you become disabled before you take leave, payments of income will cease on the date that you had elected to begin your leave. In the case of Pregnancy Leave, Sick leave allowance will cease on the date your leave begins in accordance with the current Federal Legislation. If you cannot return to work at the end of your Pregnancy Leave because you are disabled, Sick Leave and Disability benefits will resume on the date scheduled by law as the end of your leave. When the payment periods for which you are eligible have been exhausted, you will cease to receive salary payments but you may then qualify to receive Long Term Disability payments. If you return to work a...
Income Protection Benefits. 1348 This benefit is provided to employees with less than two (2) years of service. Employees will receive a benefit commencing at the later of exhaustion of Extended Sick Leave or according to State Disability Insurance (S.D.I) guidelines (i.e., the first (1st) day of hospitalization, eighth (8th) day of illness/injury) and will continue for up to one (1) year from the date of disability with continued medical certification.
Income Protection Benefits. The Board will provide the Business Administrator with an income protection insurance policy. The annual cost of the policy will not exceed $200 per month. ($2,400 annually)
