Both of these factors weigh in favour of the insurance company continuing to pay your monthly benefits if you continue to be unable to work in any employment.
Insurance companies are sometimes like a dead-beat dad: you can’t depend on them.
Below I review how CPP payments interact with your disability insurance payments, I review two big problems you will face; and conclude by discussing the six reasons why applying for (and winning) CPP disability is the smart thing to do.
The better the policy you buy, the more you pay for it in monthly premiums.
The problem is that most people have disability insurance policies through their work, so they are actually bought by the employer.
In this article I discuss the common problems you will face when getting CPP disability and LTD insurance payments.
If you have been receiving long-term disability (LTD) payments for over a year, your insurance company will require you to apply for CPP disability benefits (Note: We cover how to apply for CPP Disability in another article).
It is important to understand how insurance policies work, so you can appreciate why your insurance company gets to reduce what it pays you – dollar-for-dollar – based on what you get from CPP disability.