Visit our website for additional information: www.cpaipw.ca or call us toll free: 1-800-661-6430

CGA Legacy Members Edition2019

INDIVIDUALSINSURANCE PLANS FOR

TABLE OF CONTENTSINTRODUCTION

TERM LIFE

DEPENDENT LIFE

LONG TERM DISABILITY

CRITICAL ILLNESS

CHILD CRITICAL ILLNESS

ACCIDENTAL DEATH AND DISMEMBERMENT

OFFICE OVERHEAD

FAQ

DEFINITIONS

1234789

111216

Note: This summary is for information purposes only. Benefits will be provided in accordance with the terms of the master contract. These contracts may be a mutual agreement between the insurer and CPAIPW.

Designed For CPAs.

Since 1975, CPA Insurance Plans West (”CPAIPW”) has worked exclusively on behalf of CPA individuals and firms to provide the best value insurance and other benefit programs. Dealing exclusively with CPAs means that we can leverage the strength of our profession to offer unique programs and special pricing.

Our knowledge and dedication to our members¹ over the years has seen our reputation and success grow. To this day, over 10,000 CPAs enjoy the benefits we offer.

CPA INSURANCE PLANS WEST

As a CPAIPW plan member¹, you and your family will receive the lowest rates and the largest savings, exclusive to CPA businesses and individuals. Our organization’s fundamental principles include compassion, integrity and transparency. With our 40 plus years of experience, we will help you, your family, and your business enjoy a prosperous present and secure future.

1 2 3 4

Personalized Customer Services

Non-profit Organization

Low Rates and Premium

RefundsComprehensive

Plans

Our members are more than just our clients, they are the foundation of our

organization.

As a non-profit organization, our goal is to maximize your

savings, not our revenue.

You worked hard for your designation, now take

advantage of CPA exclusive insurance rates. Surplus

premiums are refunded to our members¹ annually - over 35

million to date.

Flexible and customizable plans at your fingertips. Mix and match your insurance

plans to fit your needs.

Introduction1

Age at April 1

<3131-3536-4041-4546-5051-5556-6061-6566-6970-74

Male

0.310.350.410.621.031.572.634.106.58

11.62

Female

0.030.040.050.070.110.160.260.400.538.61

Male

0.100.110.130.220.320.530.891.371.76

31.74

Female

0.070.080.110.160.220.370.650.991.23

18.55

Non-smoker⁷ Smoker

Term Life

coverage terminates75

Maximum

Eligibility

Available in units of $10,000 with a maximum of $2,000,000.

Applicants³ can be a member¹/member student and/or their spouse⁴ and under the age of 65 at the time of application.

Reduction

On April 1st coincident with or immediately following the 66th birthday, the benefit amount will be reduced by 50%. At 70, the amount will reduce to 37.5% of the original in-force amount.

Waiver of Premium

Premiums will be waived if the insured becomes totally disabled before age 70. The insurance company must receive written notice of total disability within 12 months of the date of the event.

Termination

Insurance automatically terminates on April 1, coincident with or immediately following age 75.

Limitation and Exclusion

Suicide within two years of the effective date of the insurance is not a covered risk.

Monthly premiums per unit of $10,000

Term Life2

0.250.270.300.430.731.161.942.814.858.61

0.790.891.071.773.085.008.0811.617.8431.74

0.440.500.661.231.773.004.616.6110.1518.55

Eligible Child

Child must be under the age of 23 or under 25 years of age (unmarried and financially dependent) and attending school full time or is suffering from a functional impairment.

Maximum

Flat amount of $10,000, $15,000, $20,000 or $25,000 for each eligible child (chosen amount will apply to all children). Also includes equivalent accidental death and dismemberment. Accidental loss schedule (except Critical Illness), limitations and exclusions are the same as for members¹.

Waiver of Premium

Premiums are waived when the insured individual becomes totally disabled.

Termination

Aligns with termination age for member¹ Term Life or the definition of dependent child as outlined above.

Dependent Life

Dependent Life

Eligibility

Member¹/member student or their spouse⁴ may apply for dependent children residing in Canada. If both member¹ & spouse⁴ are registered, only one can make application for this benefit.

Monthly Premium Per Unit of $5,000 $1.00

3

Long Term DisabilityEligibility

The member¹/member student must be working a minimum of 20 hours per week or 1,040 annually and under the age of 65 at the time of application.

Age at April 1

<3031-3940-4445-4950-5455-6465-6869

30 days

0.811.021.531.903.323.724.17

90 days

0.420.550.941.532.472.813.23

120 days

0.380.510.851.452.302.643.06

180 days

0.340.430.771.362.212.472.89

Male Selected Waiting Period

coverage terminates

Monthly premiums per unit of $100

365 days

0.300.380.671.201.952.172.54

Age at April 1

<3031-3940-4445-4950-5455-6465-6869

30 days

1.361.572.082.813.613.724.17

90 days

0.760.891.281.872.642.813.23

120 days

0.680.811.151.772.472.643.06

180 days

0.600.681.021.622.382.472.89

Female Selected Waiting Period

coverage terminates

365 days

0.520.600.901.422.102.382.54

Maximum

The lower of $10,000 or 60% of the first $11,668 of gross monthly earnings and 50% of the balance.

Are Benefits Taxable?

Under current legislation, LTD benefits are received tax-free, as long as the premiums have not been deducted from taxable income. Our plan is designed to be non-taxable, and therefore, you must pay the premium personally.

Long Term Disability4

Benefit Payments

Definition of Disability

Benefit payments begin after the chosen waiting period has expired and are payable to age 65. For disabilities occurring between the ages of 63 and 69, benefits are payable for the earlier of 24 months or age 69. Benefits are based on earnings in the 12 or 24 months immediately preceding the disability.

Benefits for partial disability will equal your full insured benefit reduced by the ratio of your earned income⁵ received while disabled to your earned income⁵ prior to disability. Partial disability is only available for the first 24 months of disability.

If your total monthly income from all sources during total disability exceeds 100% of net after tax monthly earned income⁵ prior to total disability, the benefit will be reduced by the amount of excess.

Total monthly income from all sources will include:

• Any monthly income payable under the benefit.• Payment from an employer or partnership excluding return of capital and/or sale of ownership interest.• Any disability benefits payable under the Canada/Quebec Pension Plan, excluding benefits for dependents or any cost of living

increase.• Any disability benefits payable under any Workers’ Compensation Act or any other government plan.• Any disability benefits payable under any other association group or franchise insurance plan.• Any damage for loss of income recovered from a third party, arising out of the same circumstances that caused your disability.

Total Disability

You will be considered totally disabled if, due to sickness or injury occurring while insured under the plan, you are unable to perform the essential duties of your normal occupation and are not employed in any other gainful occupation.

Partial Disability

You will be considered partially disabled if, due to sickness or injury, you are only able to perform some of the normal duties of your regular occupation or you are engaged in and receiving earned income⁵ from any other gainful occupation, providing your earned income⁵ is reduced at least 20% from its pre-disability level as a result of the disability.

Cost of Living Adjustment

Each April 1st, if you have been receiving benefits, your monthly benefit will be adjusted for inflation using the Consumer Price Index, subject to a maximum increase of 2.5% per annum. If the adjustment is less than 2.5%, the difference will be carried forward to add to the allowable percentage adjustment in subsequent years.

Recurrent Disability

If total disability from the same or related cause recurs within six months of your return to full-time work, benefit payments will resume without the usual waiting period.

Long Term Disability

Waiver of Premium

Premiums will be waived retroactively after six months of total disability. The insurance company must receive written notice of total disability within 90 days of the end of your waiting period.

Limitations and Exclusions

A claimant must be under the care of a qualified physician and receiving appropriate treatment. Disabilities resulting from self-inflicted injury, active participation in a criminal offense, insurrection or war are not covered.

5

Long Term Disability

Termination

Your Long-term Disability insurance will automatically terminate on your 69th birthday. However, coverage should be terminated at any point you no longer qualify under the eligibility definition.

Member Family Assistance Plan

Note: this section is for members¹ with LTD insurance only.

The Member Family Assistance Plan is a voluntary, confidential, short-term counseling, advisory and information service for you and your eligible family members.

The program provides professional assistance for a wide range of personal issues, including marital relationships, stress, depression, family matters, misuse of alcohol and drugs, bereavement, childcare/elder-care concerns, financial and legal concerns.

If you need additional information, or wish to arrange an appointment, call Morneau Shepell at 1-844-880-9142.

This confidential service is provided at no cost to you or your family. CPAIPW pays for the services provided by Morneau Shepell.

6

Our Critical Illness plan provides you with a tax-free, lump-sum payment should you be diagnosed with one of the covered illnesses and reach the 30 day survival period.

Alzheimer’s Disease, Aortic Surgery, Aplastic Anemia, Bacterial Meningitis, Benign Brain Tumor, Blindness, Cancer (life threatening, additional restrictions apply for breast, prostate, and skin), Coma, Coronary Artery Bypass Surgery, Deafness, Dilated Cardiomyopathy, Fulminant Viral Hepatitis, Heart Attack, Heart Valve Replacement, Kidney Failure, Liver Failure (advanced stages), Loss of Indepen-dent Existence, Loss of Limbs, Loss of Speech, Major Organ Failure (on waiting list), Major Organ Transplant, Motor Neuron Disease, Multiple Sclerosis, Muscular Dystrophy, Occupational HIV Infection, Paralysis, Parkinson’s Disease, Primary Pulmonary Hypertension (idiopathic pulmonary arterial hypertension and familial pulmonary arterial hypertension), Progressive Systemic Sclerosis, Severe Burns, and Stroke (cerebrovascular accident).

Critical Illness

Coverage

Maximum

Eligibility

Available in units of $10,000 with a maximum of $250,000.

Applicants³ can be a member¹/member student and/or their spouse⁴ and under the age of 65 at time of application.

Age at April 1

<3031-3435-3940-4445-4950-5455-5960-6465-6970

Male

1.331.952.263.185.027.48

12.3020.0935.92

Female

1.331.952.263.184.616.668.92

14.6624.63

Male

1.742.563.796.66

12.3020.3032.4953.1086.17

Female

1.742.563.796.66

10.3515.9921.7334.6551.63

Non-smoker⁷ Smoker

coverage terminates

Monthly premiums per unit of $10,000

Critical Illness

Waiver of Premium

Termination

Premiums will be waived retroactively after six months of total disability. The insurance company must receive written notice of total disability within 12 months of the date of the event.

Insurance automatically terminates on April 1, coincident with or immediately following age 70.

7

Eligibility

Member¹/member student on their spouse⁴ may apply for Child Critical Illness for children residing in Canada. If both member¹ & spouse⁴ are registered, only one can make application for this benefit.

Eligible Child

Maximum

Additional Insured Conditions

Limitations and Exclusions

The term, conditions, and covered illnesses will match what is covered for members¹ and spouses⁴, as well as Cerebral Palsy, Congenital Heart Disease requiring surgery, Cystic Fibrosis, Down Syndrome, serious mental impairment, sever brain injury, Spina Bifida Cystica and confirmed diagnosis of Muscular Dystrophy.

Muscular dystrophy must be characterized by well-defined neurological abnormalities. Diagnosis must be made by a specialist and confirmed by electromyography and muscle biopsy before the child's 24th birthday.

Type 1 diabetes must be characterized by absolute insulin deficiency and continuous dependence on exogenous insulin for survival. There must be evidence of dependence on insulin for a minimum of 3 months. Diagnosis should be confirmed by a specialist before the child's 24th birthday.

Child Critical Illness

Flat $10,000 benefit available.

Child Critical Illness

Child must be under the age of 23 or under 25 years of age (unmarried and financially dependent) and attending school full time or is suffering from a functional impairment.

Waiver of Premium

Premiums will be waived retroactively after six months of total disability of the main insured.

Termination

Aligns with termination age for member¹ Critical Illness or the definition of dependent child outlined on page 3.

8

Monthly Premiums $5.39 for $10,000

Maximum

Eligibility

Available in units of $10,000 up to a maximum of $1,000,000 for CPAs and $500,000 for spouses⁴ (up to the equivalent of your term life benefit), whichever is less.

Members¹ and spouses⁴ participating in Term Life with CPAIPW are eligible.

life both arms or both legs or feet or sight of both eyes one hand or foot and sight of one eye one hand and one foot speech and hearing quadriplegia, paraplegia, hemiplegia one arm or hand or leg or foot entire sight of one eye thumb and index finger of one hand four finger or either hand or hearing in one ear all toes of one foot critical illness*

repatriation spousal retraining day care/education bereavement funeral expense identification in hospital psychological therapy seat belt benefit workplace modification

100%100%100%100%100%200%80%75%75%40%33.3%10%

up to $15,000 up to $15,000 up to $5,000 / 4 yearsup to $1,500up to $5,000up to $5,000up to $2,500up to $5,00010% of the Principal Sum to a max. of $50,000up to $5,000

Accidental Loss and Loss of Use Schedule % of Principal Sum

Monthly Premiums of $0.15 per unit of $10,000

In addition, the following benefits may be payable if you are in a covered accident:

Accidental Death and Dismemberment

Accidental Death & Dismemberment

The following benefits may be payable if you suffer accidental loss paid under the loss schedule other than death:

*Payable if you are diagnosed before age 65 with one of the following diseases at least 90 days after this insurance becomes effective and become totally disabled for a period of nine months. Total Disability is defined as the inability to perform any occupation. Benefits are limited to the first covered critical disease in a person’s lifetime: Poliomyelitis, Parkinson’s Disease, Huntington’s Chorea, Multiple Sclerosis, Alzheimer’s Disease, Type 1 Diabetes (Insulin Dependant), Amyotrophic Lateral Sclerosis (ALS), Peripheral Vascular Disease, Necrotizing Fascitis.

rehabilitation eyeglasses, contact lenses and hearing aid family transportation home alteration or vehicle modification

up to $15,000 up to $1,000 up to $15,000up to $15,000

9

Reduction

Waiver of Premium

Termination

Follows the reduction schedule of the Term Life benefit.

Premiums will be waived if the insured becomes totally disabled before age 70. The insurance company must receive written notice of total disability within 30 days of an accident or diagnosis of a critical illness.

Insurance automatically terminates on April 1, coincident with or immediately following age 75.

Accidental Death and Dismemberment

Limitations and Exclusions

“LOSS OF USE” must be total and irrecoverable and must be continuous for twelve consecutive months after which the benefit for Loss of Use is payable, provided damage is deemed (except Critical Illness) to be permanent.

Any loss must be the result of an accident, must occur within 365 days of the accident, and must be complete and irrecoverable.

Payments will be made only for one loss, the greatest sustained as the result of one accident. Losses caused by self inflicted injury including asphyxiation, war, full-time service in the armed forces, medical treatment, or flying (except as a passenger on a valid commercial airline), stroke or cardiovascular events or infections are not covered.

*Notice of a claim must be provided within 30 days of an accident or diagnosis of a critical illness.

Family Accidental Death and Dismemberment

Family ADD will only be offered on an exception basis for legacy CPAs who are currently enrolled. All other terms and conditions will follow the CPAIPW plan design and features.

Monthly Premiums $0.47 for $10,000

10

Office Overhead

Maximum

Eligibility

Benefit Payment

Limitations and Exclusions

Waiver of Premium

Termination

Available in units of $100 up to a maximum of $6,000.

Partners and sole proprietors insured under the long term disability plan with CPAIPW are eligible.

Benefits commence after 30 days of total and continuous disability and continue until disability ceases, the practice is disposed of, or one year has elapsed, whichever occurs first. If you are partially disabled, benefits will be proportional to the time worked.

No benefit is provided for the member¹ salary, fees or drawing account, or renumeration to any CPA or other person who replaces a member¹ to perform his prior duties for the purpose of generating income for the firm. Payments for new equipment and mortgage principal are excluded.

The limitations and exclusions applicable to the Long Term Disability Insurance also apply.

Premiums will be waived retroactively after 6 months of total disability. The insurance company must receive written notice of total disability within 90 days of your last day worked.

Your Office Overhead insurance will automatically terminate on your 69th birthday. However, coverage should be terminated at any point you no longer qualify under the eligibility definition.

<40 40-49 50-59 60-6869

0.550.801.301.88Coverage Terminates

Age at April 1 Monthly payment per unit

Monthly Premiums Per Unit of $100

Office Insurance Overhead11

Will my coverage change?

Your current coverage will be grandfathered over to the CPAIPW plan on November 1, 2019.There may be some differences in policy provisions (for example, dependent children are now eligible for coverage up to age 23). You will experience no loss or downgrade of coverage. You will also be able to take advantage of CPAIPW’s unique programs and discounts.

FAQ

Will my premiums change?

Do I have to reapply for coverage?

Can I make changes to my current coverage?

Yes. Most CGA legacy members¹ will find that they are paying lower rates for the same coverage.Premiums will now be billed by and payable to CPAIPW. Payment can be made via CPAIPW’s online payment portal, online banking, credit card, or cheque.

Member¹s who participate in the Term Life and Long-Term Disability benefits can expect to receive a premium refund at renewal. The refund amount is based on the premiums paid in the previous policy year and will be applied to premiums for the upcoming policy year.

In 2019, 15% of Term Life premiums and 30% of Long-Term Disability premiums were refunded to CPAIPW members¹.

No. Your coverage details have been transferred to CPAIPW and will remain in place unless you request any changes.

Any increase or addition to coverage requires completion of a CPAIPW individual application form. Medical underwriting may be required.

Any decrease or cancellation of coverage can be requested via email to info@cpaipw.ca.

FAQ

Can my family be covered?

Yes. Eligible family members⁴ include spouses⁴ and dependent children. Coverage for Term Life, AD&D, Critical Illness, Extended Health, Dental and Travel is available.

*In the event of a marriage breakdown, the non-CPA spouse⁴ cannot retain a CPAIPW policy. However, conversion options may be available. Please contact CPAIPW for details.

Long-Term Disability and Office Overhead coverage are available only to CPA members¹.

12

FAQ

Which insurance companies does CPAIPW work with?

Desjardins Insurance (Term Life, Disability, Critical Illness, Office Overhead) is the Desjardins Group’s life and health insurance sub-sidiary. Desjardins Life Assurance was founded in 1948 in Quebec, Canada. The Desjardins Group has over 46,000 employees across Canada and more than 7 million members¹ and clients.AIG (Accidental Death and Dismemberment) began operations in Canada in 1966. AIG serves over 35,000 Canadian clients and operates in 80 countries.The Personal partners with over 700 organizations to provide home and auto* group coverage. CPAIPW members¹ receive a preferred rate for coverage. *Auto insurance available in Alberta onlyGMS (Health, Dental, Travel, Visitors to Canada) began operating in Canada in 1949 and have partnered with CPAIPW since 2017 to provide personal and replacement healthcare benefits to our members¹ at discounted rates. They are headquartered in Regina, Saskatchewan.Gore Mutual (Office Content) has been providing personal lines coverage in Canada since 1839. CPAIPW members¹ receive a discount on coverage through Metrix Insurance Brokers.

What are all the types of insurance CPAIPW offers?

Term LifeAccidental Death & Dismemberment (AD&D)Dependent Child BenefitLong-Term DisabilityEmployee and Family Assistance (for LTD policyholders, provided and administered by Morneau Shepell)Critical IllnessOffice OverheadOffice ContentHealthcare Spending Accounts (Coming Soon)Cost-PlusHome & Auto Extended Health Dental Travel Visitors to Canada

Information on all available benefits and application forms is available at www.cpaipw.ca.

When is my renewal date?

Can I pay monthly?

All CPAIPW coverage renews on April 1st of each year. Your CGA coverage ended on October 31st, 2019 and is now being renewed to April 1, 2020. Hereafter, April 1st will be your new renewal date.

Yes. Monthly pre-authorized debit is available with an additional fee of $1/month. Take advantage of this option by downloading and completing the form via www.cpaipw.ca and email it to info@cpaipw.ca along with a copy of a void cheque or bank verification.

How do I change my beneficiary⁶?

Your welcome package included a beneficiary⁶ change form and self-addressed envelope. You must reaffirm your beneficiary⁶ designation, as this information is not part of the coverage conversion. You can also take this opportunity to change your benefi-ciary⁶(ies). In the event of a claim, Desjardins Insurance requires an original beneficiary⁶ form with signatures in ink from the insured and a witness. The completed beneficiary⁶ form must be mailed to the CPAIPW office as soon as possible.

In the future, you can change your beneficiary⁶ at any time by mailing in a beneficiary⁶ change form.

13

Can I assign my life insurance?

How do I cancel my coverage?

I am a firm partner/sole proprietor and looking for coverage for myself and my staff. Is this available with CPAIPW?

Yes. Your financial institution can forward the applicable forms directly to info@cpaipw.ca.

You can cancel all or a portion of your coverage with an email to info@cpaipw.ca.

Yes. Group benefits coverage, including Term Life, AD&D, Dependent Life, Long-Term Disability, Critical Illness, Extended Health-care, Employee & Family Assistance Program, Best Doctors, and Dental is available to organizations with at least 2 (two) employ-ees, one of which must be a CPA. Information on group coverage can be found at www.cpaipw.ca.

For a quote, please use our online quote calculator or call our office to discuss your options with one of our representatives.

FAQ15

Can I keep my coverage if I retire?

Can I keep my coverage if I resign my designation?

CPAIPW members¹ can retain their coverage post-retirement, if they remain a member¹ in good standing. Please contact your provincial association for information regarding membership after retirement.

No. If you resign your designation and relinquish membership with your provincial association, you will be required to terminate your coverage. Conversion options are available for members¹ under the age of 65. Please contact CPAIPW for further information.

Note – eligibility for CPAIPW coverage is dependent on membership with a Western Canadian association (BC, Alberta, Saskatchewan, Manitoba, Yukon, NWT, Nunavut). CPAs in Eastern Canada must contact their provincial association for information about insurance plans.

Definitions

DefinitionsApplicant³: Must be a resident of Canada, U.S. or the Caribbean and less than 65 years of age.

Beneficiary⁶: Your elected person(s) or organization(s). Any changes to your beneficiary designation must be made in writing to CPAIPW. Original signature required.

Earned income⁵:

(a) A sole proprietor’s or partner’s share net income of a CPA Firm for the immediate preceding fiscal year of the firm; plus

(b) Share of your Professional Corporation’s share of proprietorship/partnership net income after deducting expenses but before any distribution of earnings for the immediately preceding fiscal year; plus

(c) Employment income from a business not owned by you for the previous calendar year; plus

(d) Share of net income from an incorporated or unincorporated business owned wholly or partially by you prior to any income distribution to yourself for the immediately proceeding fiscal year; plus

(e) Any other suitable “earnings” component that the board of directors of the Policyholder may deem appropriate from time to time.

(f ) The average income earned whether paid as fees, salary, bonus, commission or honorarium (excluding investment income) in the previous 12 months or 24 months, whichever is greater.

Insurer⁸: Desjardins Insurance.

Member¹: A person who is a registered member in good standing of a participating province.

Non-smoker⁷: An individual who has not used tobacco products in the last twelve (12) months.

Participating provinces²: British Columbia, Alberta, Saskatchewan, Manitoba, Yukon, Nunavut, and North West Territories (including CPA Western School of Business Students).

Spouse⁴: A person who is publicly represented by a member as their spouse.

16

CPA Insurance Plans West9918A 102 St

Fort Saskatchewan, ABT8L 2C3

Toll Free: 1-800-661-6430Local: 780-998-1798Fax: 780-997-6467

Website: www.cpaipw.caE-mail: info@cpaipw.ca