FAQ

About Term Life and Personal Accident Insurance

Yes, Member Term Life Insurance can be used to ensure that the face value of the insurance will be available for such use upon the death of the insured, provided the designated beneficiary of the insurance is the surviving party in the buy-sell agreement.

If your spouse is insured under the CPA Ontario Insurance Plans on the anniversary date you are Age 85, your spouse's coverage will remain in force until your spouse turns Age 85, as long as you remain a member, and subject to the provisions of the group policy.

If your spouse is insured under the CPA Ontario Insurance Plans on the date of your death, your spouse's coverage and any child's coverage in force on that date will automatically be continued, subject to the provisions of the group policy.

If you cancel your Term Life Insurance, you may within 31 days apply to convert your insurance to selected individual plans without an additional medical examination or extra health questions to answer. You simply pay the rates for the individual plan that apply to your age at the time of conversion. For more information, please call a Manulife representative toll-free at 1 866 219.4245 or contact us online.

About my Future Insurability Option

If you would like to exercise your existing Future Insurability Option (FIO), please call Customer Service toll-free at 1 866 219.4245 from 8 a.m. to 8 p.m. ET, Monday to Friday, or e-mail am_service@manulife.com. Please do not include any credit card account numbers in your email message to us.

When you apply for an FIO for Member or Spouse Term Life (before Age 51) — you and your spouse can exercise your FIO up to five (5) times through to Age 55: on every second policy anniversary (June 1) following purchase, or within 31 days of the following life events:

Legal marriage or 2 years in a common-law relationship (member only).
The birth or adoption of a child.

Choose either the $25,000 or $50,000 option, so you can increase your coverage by up to $125,000 (5 X $25,000) or $250,000 (5 X $50,000), respectively (subject to the Term Life maximum of $2 million per person).

When you apply for an FIO for Income Protection (before Age 51) – you can purchase up to 25% of your coverage amount (both applied for and already in force) or $2,000, whichever is less. Beginning on your second policy anniversary date, up to Age 55 while your coverage is in force. The additional Income Protection amount must be supported by your Earned Income.

Note: You total monthly Income Protection amount, including the additional FIO amount, cannot exceed $15,000.

About Income Protection & Office Overhead Expense Insurance

Members who are covered under employee group disability plans can fully supplement their disability coverage with CPA Ontario Income Protection Insurance. CPA Ontario gives you two options when you currently have group disability insurance:

Top Up – The “Top Up” option allows you to purchase coverage equal to the difference between the benefit provided by your employer group plan and the additional amounts available to you through CPA Ontario Income Protection Insurance.
Offset – The “Offset” option allows you to purchase the maximum CPA Ontario Income Protection Insurance coverage possible based on your earnings, regardless of your current employer’s coverage. If you suffer a covered disability while insured by both plans, your CPA Ontario coverage will be reduced by the amount of your group benefit. However, if you’re no longer covered by the group plan at the time of disability, you’ll receive full coverage from the CPA Ontario Income Protection Insurance Plan.

Many disability plans cease paying benefits once you are considered able to pursue any type of gainful employment – whether it is professional or menial. These programs are black and white – if you can work at anything, benefits are not paid. However, understanding your unique training and talents, the CPA Ontario Insurance Plans will provide full benefits, provided you are not otherwise gainfully employed, if a Total Disability prevents you from performing the essential duties of your regular occupation – not just any occupation – and you suffer a loss of income. You can enhance your coverage by purchasing the Own Occupation Option when you purchase Income Protection or Office Overhead Expense Insurance. With this option, you can continue to receive Total Disability benefits even if you become gainfully employed in an occupation other than your own.

Your Member Income Protection coverage contains a Partial Disability benefit provision. This special provision will provide partial benefits if an illness or injury causes you to lose 20% or more of your Earned Income.

No. Severance pay is not considered a part of your Earned Income because it is not income earned from your regular employment, but rather from the termination of your employment. Monthly Disability Benefits are not offset by any severance payment.

For Member Income Protection Disability Insurance and Member Office Overhead Expense Insurance, premiums are waived while benefits are being paid. For all other plans, if an insured member becomes totally and permanently disabled before Age 65, all premiums falling due after three months of continuous disability will be waived while the disability continues. There is no extra charge for this benefit.

Your Member Income Protection Plan includes a Cost-of-Living Adjustment. This important feature will automatically increase your benefits by up to 8% annually (based on annual escalation factors under the Canada Pension Plan). Increases are effective each January 1st, provided you received Total Disability benefits for the preceding six months.

It depends on who pays the premiums. If your employer currently pays for your group disability insurance plan, any benefits actually paid to you during a disability leave will be taxable as income (under current tax rules). By paying for you own CPA Ontario Income Protection Insurance coverage, any benefits you receive will be tax-free income. Your benefits are tax exempt as long as you pay the associated premiums, personally, from your after-tax income. That’s an important feature at a time when you could find yourself facing additional disability-related expenses.

While many basic disability plans cap overall benefit payments at lower levels, your Member Income Protection Plan was designed with well-compensated accounting professionals in mind, and offers you coverage of up to $15,000 per month, tax-free.

When you apply for Income Protection you can add a Future Insurability Option (FIO) to your coverage. The FIO must be underwritten and purchased when you first apply for your coverage and are under Age 51. FIO gives you the opportunity to increase your monthly benefit amount every two years from the effective date of coverage, allowing you to keep up with salary increases, regardless of your health in future.

About Critical Illness Insurance

Prior to developing Member and Spouse Critical Illness Insurance, we invited a cross-section of your peers to a series of focus groups, where we solicited their opinions on virtually every aspect of Critical Illness coverage. Your fellow members saw little value in including a return of premium feature in the Plan, considering how much it would inflate the cost of the coverage.

About Health & Dental Insurance

You have 12 months from the date you were charged for a health and dental service to submit your claim for reimbursement.

If your claim is complete and accurate, you will generally receive payment within five business days. When information is missing, we may have to contact you. This delays processing and payment.

First, check to see if your provider has already submitted your claim. Often, you don't have to submit a claim because many hospitals, pharmacies and dentists can submit your claim directly to us. There's no online form or paperwork for you.

Additional information about submitting claims can be found in the Information Handbook you will receive once you are approved for coverage.

If your provider hasn't already submitted your claim, you can submit your claim online:

Within 12 months of the date you were charged
Specify the currency if your claim is for services outside Canada
Hold on to original receipts and applicable supporting documentation for 12 months in case a claims review is required

Submit your claim online:

Within 12 months of the date you were charged
Hold on to original receipts and applicable supporting documentation for 12 months in case a claims review is required

If your plan includes a travel benefit and you're in Canada or the United States, call our Assistance Centre at 1–800–805–1008. Outside of Canada or the United States, call collect at 1–519–251–7298. Be sure to bring with you your Manulife World Assistance Card, which contains the telephone numbers of the appropriate Emergency Assistance Centres.

You may also download the Manulife TravelAid^® app which offers instant access to medical facilities and international emergency (911) numbers. You can also submit travel claims online for faster and easier service.

Features of the TravelAid^®app include:

access to international emergency numbers by GPS location
medical facilities by GPS location
current travel advisories
contact information for 24/7 assistance using your preferred contact method
online claims submission
relevant and timely travel tips

You can download TravelAid from the App Store today.

TravelAid is a trademark of Active Claims Management (2018) Inc. and is used by Manulife and its affiliates under license.

App Store is a trademark of Apple Inc.

Applying for Coverage

Manulife wants you to know that you can apply for coverage in complete confidence, because our first concern is to make sure you are satisfied with your purchase. That is why there is the 30-Day Money-Back Guarantee. Once you have received your Certificate for your coverage under the CPA Ontario Insurance Plans, read it carefully. If you are not completely satisfied, contact Manulife within 30 days of receipt to have your coverage cancelled and your premiums refunded in full.

The cost of coverage will be the same whether you purchase member and spouse coverage, or each of you purchases Member coverage. However, eligible spouses who are covered as members also enjoy Waiver of Premium if disabled.

All applicants must complete a short statement of health and other particulars of insurability. If Manulife requires the medical examination of any applicant, it will be at Manulife's expense. The applicant will be notified directly in this case.

There are no medical requirements for any additional coverage purchased when you exercise your Future Insurability Option or when you apply for Personal Accident Coverage or for the first unit of Child Life & Accident coverage. (Additional units of Child Life & Accident coverage will require a statement of health.)

As a member, you are entitled to non-smoker rates for Term Life Insurance or Critical Illness Insurance if, as of the date your application is received by Manulife, you have not used tobacco or tobacco cessation products in the past 12 months.

Your coverage will begin on the date the properly completed application and the first premium are received by Manulife, subject to the approval of Manulife's underwriters. If you are approved, you will receive a certificate specifying the coverage provided and outlining the main policy provisions. If you are not insurable, a full refund of the premiums will be made.

As noted above, once you receive your Certificate of Insurance, examine it carefully. If you are not completely satisfied, simply return your Certificate of Insurance to Manulife within 30 days and request that your coverage be cancelled. Your premiums will be refunded in full for any new coverage that you cancel within 30 days of receiving your Certificate — no questions asked!

If you and/or your spouse apply for $250,000 or more of new or additional Term Life coverage — and you enjoy exceptionally good health — you may qualify for Preferred Rates of up to 27% less than the regular rates. You don’t have to apply for these Preferred Rates; Manulife’s underwriters will assess your application automatically and notify you if you qualify.

A "Spouse" can be:

someone you are legally married to; or
someone you have lived with for at least two years and is named in a written request for Enhanced Spouse Term Life Insurance.

A person cannot be your Spouse if they are insured by someone else under the same policy or are a member themselves.

Once You Are Covered

Yes, once approved you must continue to be a member of one of the following participating bodies:

Chartered Professional Accountants of New Brunswick
Chartered Professional Accountants of Newfoundland and Labrador
Chartered Professional Accountants of Nova Scotia
Chartered Professional Accountants of Ontario
Chartered Professional Accountants of Prince Edward Island
Chartered Professional Accountants of Bermuda

Eligibility for this coverage is a benefit of your continued membership of a participating body. This coverage may be continued no matter where you choose to work, providing you maintain your membership and pay your premiums when they are due. However, if you are claiming disability benefits and are in a country where proof of disability cannot be obtained, you may be requested to return to Canada, the U.S. or Bermuda.

If your former spouse was insured under the CPA Ontario Insurance Plans prior to the date of your separation or divorce, you may continue to cover that person as your spouse, subject to the provision of the group policy that only one person at a time may be covered as your spouse.

Insured members who have stopped using any form of tobacco or tobacco cessation products for at least 12 consecutive months may apply to switch to non-smoker rates at the premium due date. Applications for change are accepted based on smoking status and health, you can find this application in the Resource Centre. If an application for non-smoker rates is denied, coverage will continue to be provided at the smoker rate.

To cancel your coverage, return your Certificate of Insurance to us within 30 days of first receiving it, along with your written and signed cancellation request. Your premiums will be refunded in full for any new coverage that you cancel within 30 days of receiving your Certificate. If you choose to cancel your coverage at a later date, mail us a written notification bearing your signature. Your coverage will end beginning with the payment due date following the date on which we receive your cancellation request. Please take note that if you later choose to rejoin the plan, you must once again complete an application and meet the medical qualifications required of any new applicant. If you are unsure about cancelling your coverage, please contact Manulife for assistance.

Termination age is 85 on the new plan and 75 on the old plan, therefore, coverage ends at this time.
However, if you’re interested in extended coverage, there is a conversion privilege. This privilege allows you to convert part or all of your policy to permanent insurance without underwriting.
For more information, please contact Manulife at 1 866 219.4245.

Your Premiums

Premiums increase with age, as shown on the product rate tables for all insurance except Personal Accident Insurance and Child Life and Accident Insurance. “Age,” for the calculation of premiums and benefits, means attained age at the beginning of the Policy Year (June 1).

If your payment method of choice is either by credit card or Pre-Authorized Debit (PAD), and the credit card or account number shown on your Premium Notice is correct, you don't need to do anything. We will charge your premium payment to your account in the month in which your premium is due, and apply it to your coverage.

If your payment method is by cheque, send a cheque for the full amount to us by the Anniversary Date (June 1).

Premiums are payable once a year on June 1 by cheque, Visa, MasterCard or American Express; or once a month by Pre-Authorized Debit (PAD), Visa, MasterCard or American Express. No matter which payment method you choose, you will receive an annual renewal notice. If your payment method is credit card or PAD, your notice will automatically reflect that choice so you can continue using the same method, without having to provide information again. If you wish to switch to another payment method, simply let Manulife know before the due date.

To change your payment method to Pre-Authorized Debit (PAD) you can do this online by visiting Manage My Profile – and completing the form, or if you prefer, by simply filling out the form on the back of your Premium Notice and mailing it back to Manulife.

To change your payment method to credit card, or to change your credit card number on file, please call Manulife toll-free at 1 866 219.4245 between 8am and 8pm, ET, Monday through Friday. A representative will be able to help you.

You can easily update your address, phone number or email address by visiting Manage My Profile. You can update this information online or downloadable the applicable forms to complete offline and mail in.

Unless the beneficiary designation is irrevocable, you may change your beneficiary at any time by providing written notification to Manulife using the downloadable forms available in the Resource Centre. Irrevocable beneficiary designations can only be changed with the consent of the named beneficiary.

Note: In the province of Quebec, the designation of a spouse as beneficiary is considered irrevocable unless it has been specifically indicated as revocable.

To apply for increased coverage, simply complete another application for any additional amount you may be eligible for, then send it to Manulife. For your convenience, you can apply online directly from this website. If you prefer, you can download a printer-ready application which you can find in the Resource Centre.

You can also contact one of Manulife's experienced Customer Service Representatives to receive an application form through the mail.

To increase your coverage under the Future Insurability Option, contact Manulife's Customer Service toll-free at 1 866 219.4245 from Monday to Friday 8 a.m. to 8 p.m. ET, or email am_service@manulife.com. Please do not include any credit card account numbers in your email message to us.

You can request a printed brochure and application by contacting Manulife at 1 866 219.4245 Monday through Friday, from 8 a.m. to 8 p.m. ET. Or e-mail am_service@manulife.com any time. You can also download brochures or a printer-ready application from the Forms and Brochures section of the Resource Centre.

You can contact Manulife’s customer service representatives by calling toll-free 1 866 219.4245 (Monday to Friday, 8 a.m. to 8 p.m. ET), by sending through your questions using the online contact form – or by e-mail at am_service@manulife.com.

Note: Please do not include any credit card account numbers in your email messages to us.

Answers to your 2025 Premium Notice Questions

If you are eligible to receive the premium refund in 2025, it will be equal to:

10% of premiums paid (plus sales tax where applicable) for member, spouse and/or child Term Life coverage for the full policy year from June 1, 2023 to May 31, 2024;
50% of premiums paid (plus sales tax where applicable) for Income Protection coverage for the full policy year from June 1, 2023 to May 31, 2024; and
50% of premiums paid (plus sales tax where applicable) for member and/or spouse Personal Accident Insurance coverage for the full policy year from June 1, 2023 to May 31, 2024.

The Premium Credit will be applied towards your monthly premium until the credit is depleted. Your 2025 Premium Notice will indicate the month when regular Pre-Authorized Debit (PAD) payments resume. Note that when your PAD payments resume, the first payment may be a partial payment with full payments resuming thereafter; the onus is on you to know when your premiums are due.

If you have changed your bank or your credit card has been reissued, please contact Manulife immediately to update your payment instructions at 1 866 219.4245 between 8 a.m. and 8 p.m. ET, Monday through Friday.

The CPA Ontario Insurance Plans are a group insurance arrangement. Premium rates are set based on accepted insurance practices, actuarial standards, and expected claims experience. Funds not needed to maintain a sound financial position (based on actual Plan experience) are typically returned to eligible plan members in the form of a premium refund.

To qualify for a refund, you must:

Be a member of a participating provincial body from New Brunswick, Newfoundland and Labrador, Nova Scotia, Ontario, or Prince Edward Island, or from Bermuda; and
Have been insured and paid your premiums under specific CPA Ontario Insurance Plans for the full "eligibility period."

Note: the policy year of June 1, 2023 through May 31, 2024 is the "eligibility period" for the 2025 refund distribution.

The most equitable way to distribute a refundable surplus is to base it on premiums and associated tax paid by an insured member during the full eligibility period. This eligibility requirement has been in effect for several years.

The details of your refund and applicable taxes will be available on your Individual Premium Notice, which is sent to you by mail in early May. On the reverse side of this notice, you will find a detailed breakdown of the individual Plan refunds and applicable taxes which you are eligible to receive. If a refund cheque is issued due to the credit exceeding any premiums due, an explanatory letter will be included with your cheque.

The 2025 refund is based on the gross premium (net of any volume discount but prior to any previous year's refund) as reported on your 2023 Premium Notice. This is the notice you received two years ago, in May 2023, which was for the policy year from June 1, 2023 to May 31, 2024.

The refund surplus, if any, is determined annually based on the financial results for the Plan’s fiscal period (October 1 through September 30). The 2025 refund is based on the financial results for the period from October 1, 2023 to September 2024. Refund amounts vary from year to year – depending on actual Plan experience, there may be no refunds in some years.

The "eligibility period" (the key measurement to determine if you qualify to receive a refund, if declared) runs from June 1 to May 31. The "experience period,” or fiscal year, runs from October 1 to September 30; this is the period when we review the financial experience to determine if refunds are possible.

No. Your refund is based on coverage you hold during an eligibility period (e.g., in 2025, the eligibility period is June 1, 2023 to May 31, 2024). Any purchases made after an eligibility period would only impact future eligibility periods.

If you have ongoing coverage, the refund will be applied as a premium credit on your June 1, 2025 Premium Notice. In other words, the refund will be used to offset (reduce) the premium due for the upcoming year. If your premium credit exceeds the premium due, you will receive a refund cheque for the difference. If you have discontinued all coverage, you will receive a cheque covering the full refund.

If you have discontinued all coverage effective on or after June 1, 2024, but were eligible to receive a refund (i.e., you are an insured member of an eligible participating body and you paid full premiums during the eligibility period – in this case, from June 1, 2023 to May 31, 2024), a cheque covering the full refund will be mailed to you.

The Premium Credit section on the reverse of your 2025 Premium Notice will indicate the month when you resume regular payments. If you have Term Life, Personal Accident and/or Income Protection coverages, these payments may resume at separate times, and will be noted on your Premium Notice. Please remember that the onus is on you to know when your premiums are due. Note that the first payment will likely be a partial payment, with full payments resuming after that time.

Please remember to check whether Manulife has your current payment instructions. If you have changed your bank or your credit card has been reissued, please contact Manulife immediately to update your payment instructions at 1 866 219.4245 between 8 a.m. and 8 p.m. ET, Monday through Friday.

This difference may be due to a transaction on your account that resulted in additional funds (in addition to your premium credit) being credited to your account. For details specific to your account, please call a Manulife representative directly at 1 866 219.4245 between 8 a.m. and 8 p.m. ET, Monday through Friday.

Our objective is to maintain the CPA Ontario Insurance Plans in a sound and stable financial position. When results for any plan's fiscal period produce surplus funds which are not needed to meet this key financial objective, a refund may be declared.

There is no guarantee of a refund in any year. The availability and amount of any refund will be reviewed annually and declared in conjunction with the annual billing cycle in May. CPA Ontario, with the help of Manulife and independent actuarial consultants, will continue to monitor the Plan experience and trends annually — to ensure the CPA Ontario Insurance Plans remain competitive and on sound financial footing.

Manulife cannot provide advice on personal tax situations. However, our understanding is that refunds should not be taxable to members.

Manulife has obtained an opinion from its external tax advisors on the implications of the Income Tax Act on refunds to insured members from the Term Life Plan. The opinion indicates that under the existing tax legislation, a refund of premiums to an insured member should not be deemed a disposition of an interest in a life insurance policy and, furthermore, such amount is not paid to the policyholder (Chartered Professional Accountants of Ontario).

Refunds under Health Plans (Income Protection and Personal Accident Plans) are not taxable.

For further questions call toll-free at 1 866 219.4245 between 8 a.m. and 8 p.m. ET, Monday through Friday.

For assistance with changing your credit card on file, please call Manulife toll-free at 1 866 219.4245 between 8 a.m. and 8 p.m. ET, Monday through Friday. A representative will be able to help you.

If your credit card is expiring, no action is required by you. The system will automatically update the expiry date on file.