Page 35 - iA Excellence -Field Underwriting Guide - Updated on July 2019

When the annual income is defined, please indicate it on Assure&go, and the available monthly benefit will
be automatically calculated and indicated as a reference in order to help you and the applicant apply for the
appropriate monthly amount of benefits according to the applicant’s need and maximum available monthly
amount. (See the Schedule of maximum available monthly benefits on page 37)

Existing coverage: Worker’s compensation and personal or group benefits

The amount of the monthly benefit can be affected by existing coverages, subject to the following
guidelines:

• Monthly benefit amounts less than or equal to $1,200 will not be integrated.
• For an applicant covered by worker’s compensation or a personal and/or group disability insurance
policy, payments to the insured must be deducted from the available monthly benefit, so that the
total of all amounts insured (integrated or not integrated) do not exceed the maximum available
monthly amount of benefits. This is done in order to avoid over-insurance.

Financial information and existing insurance: Determining eligible monthly benefit

Monthly income
Earned benefit amount Number of years
(insurable) Required financial applied for, plus of required
documentation
income in force from all documentation
sources
None at issue
(except if the applicant chooses to
guarantee the requested benefit
amount; then it must be provided at
Salaried employee Salary, plus Bonus time of issue).
(no ownership)
At time of claim: Personal T1 General
Or T4
No proof of income would be required At time of issue: 2 years
for insured amount ≤ $1,000 in order to guarantee the
benefit.
None at issue (except if guarantee
Commissioned Salary, if any requested – same as above). At time of claim: The last
employees Commission Bonus This benefit amount year. However, if this
At time of claim: Personal T1 General
must not be higher than income does not justify
Owner’s share of the the maximum amount the insured benefit
business net income* None at issue (except if guarantee benefit allowed by the amount, then the income
Non-incorporated (after expenses and requested – same as above). earned insurable income, of the 3 best years
business owner before taxes) including all in force. within the last 5 years
(sole proprietorship / Fee or any other At time of claim: Personal T1 General are requested in order to
partnership) amount received for and financial statement, if any, with make an average to get
professional services owner’s percentage share closer to or match the
or work performed insured monthly benefit.
Salary plus Bonus
None at issue (except if guarantee
Owner’s share of the requested – same as above).
net corporate profit*
Incorporated At time of claim: Personal T1 General,
business (owner) Fee or any other plus corporate TP1 or financial
amount received for statement with owner’s percentage
professional services share
or work performed
* Net corporate profit means the net profit of the business after expenses and before taxes multiplied by the insured’s percentage share in the business. 35
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