COMMONLY ASKED QUESTIONS
For Term Life, Waiver of Premium, Accidental Death & Dismemberment, Long-Term Disability, Critical Illness, Office Overhead: Contact CPAIPW for assistance at 1-800-661-6430 or firstname.lastname@example.org
For Extended Health, Dental, Travel, Visitors to Canada (GMS): 1-800-667-3699
For Auto and Home (The Personal): 1-855-674-6356
For Extended Health, Dental, Out-of-Country (Great-West Life, group coverage only): 1-800-957-9777 or GroupNet
Term Life, Long-Term Disability, Dependent Life, Critical Illness: Desjardins Insurance - Policy 647232
Accidental Death & Dismemberment: AIG - Policy SRG9139436
Health, Dental, Travel, Visitors to Canada: GMS
Home and Auto (auto available in Alberta only): The Personal
Extended Healthcare and Dental (group only): Great-West Life - Policy 56579
Employee and Family Assistance Plan (individual and group, LTD plan holders only): Morneau Shepell
Second opinion and referral service (group only): Best Doctors - Policy 335693
FAQ FOR INDIVIDUALS
Members of Chartered Professional Accountants associations in Western Canada (BC, Alberta, Saskatchewan, Manitoba, Northwest Territories, Yukon Territory, Nunavut) and their eligible dependents. CPA students are also eligible.
Applicants must be under age 65.
Eligible dependents include spouses (married or common-law) and children under the age of 23.
If approved, your insurance coverage is effective immediately upon receipt of your original application form.
Premiums are pro-rated from the first of the month following the approval date until the end of the current policy year (April 1st to March 31st).
Thereafter, premiums are invoiced annually on April 1st and are based on your age at time of renewal.
Premiums can be paid via our payment portal, online banking, or cheque.
Term Life: if you become permanently and totally disabled, premiums will be waived as long as disability continues or up to age 71, whichever is longer. Proof of disability must be submitted within one year from date of disability.
Long-Term Disability and Office Overhead: premiums will be waived retroactively after six months of total disability.
Critical Illness: premiums will be waived retroactively after six months of total disability.
You may apply for non-smoker rates when you have stopped using tobacco products for one year.
Once your coverage is approved, it will not be cancelled nor amended as long as premiums continue to be paid.
Coverage for spouses of CPAs will only remain in force during the period of marriage/common-law status. Spousal policies are terminated if there is a marriage breakdown. Conversion options may be available ? contact CPAIPW for details.
Term Life: if you are under the age of 65 you may convert your coverage up to a maximum of $300,000 to an individual term life plan with Desjardins. Application must be made within 30 days of the termination date. Evidence of insurability is not required.
Critical Illness: if you are under the age of 65 you may convert your coverage up to a maximum of $200,000 to an individual critical illness plan with Desjardins. Application must be made within 31 days of the termination date. Evidence of insurability is not required.
Conversion options are not available for other products.
Provided you maintain non-residence status with your provincial CPA association and continue to pay your premiums when due, you may continue your coverage apart from Office Overhead.
FAQ FOR COMPANIES
Your company is eligible for coverage if a CPA is an active owner, partner or proprietor in the organizations, and falls under one of the following criteria listed below:
There must be a minimum of 2 active people & one must be a CPA. The minimum number of hours to be eligible for benefits is 1,040 hrs/year.
Public practice (accounting)
Financial planning and consulting (financial, receivership, IT)
Equity & venture corporations
CFE student training & education
Applicants must be under age 65. Contract personnel are eligible for benefits.
Coverage for CPAs will commence on the first date of active employment.
A three-month waiting period will automatically be applied to all non-CPA employees.
If evidence of insurability is required, coverage will commence after the waiting period (if applicable) on the date the application is approved by the insurer.
A non-evidence limit is the amount of insurance a group plan member is entitled to without having to submit evidence of insurability. All employees of organizations under 5 lives must submit medical evidence.
|Firm Size||Life Max||LTD MAX|
|5 to 9 Lives||$75,000||$2,000|
|10 to 24 Lives||$125,000||$3,000|
|25 to 49 Lives||$175,000||$4,000|
|50 to 74 Lives||$250,000||$5,000|
|75 to 99 Lives||$350,000||$6,000|
Please Note: Employees who are not medically eligible for coverage cannot be covered for AD&D, Extended Healthcare or Critical Illness.
If you are a CPA: You may transfer all benefits, excluding Extended Healthcare and Dental, to CPAIPW's individual plans within 31 days of leaving your organization (under age 65 only).
CPAs are eligible for Replacement Coverage for Extended Healthcare and Dental with GMS. Please contact GMS directly at 1-800-667-3699.
If you are a non-CPA: You may convert term life coverage only up to $300,000 by applying for an individual policy with Desjardins within 31 days of leaving your organization (under age 65 only).
No other products are eligible for conversion.
Evidence of insurability is not required for conversion.