The Amount of Disability Benefit payable is a monthly taxable benefit at 65% of the Employee’s Monthly Salary plus the pension contribution (see below) to a maximum Monthly Benefit of $11,000 less any amount the Employee receives, or is entitled to receive, from the following sources for the same or related Disability:
a) Workers’ Compensation or similar coverage;
b) Canada or Quebec Pension Plans; and
c) any government motor vehicle automobile insurance plan or policy, unless prohibited by law.
The benefit amount payable will be further reduced so that the total amount from All Sources does not exceed 85% of the Employee’s pre-disability Earnings.
With respect to Canada or Quebec Pension Plans, when requested by Manulife Financial, reconsideration, appeal or reapplication following a decline of a benefit is to be made, as well as providing satisfactory evidence to Manulife Financial that a reconsideration, appeal or reapplication of the benefit has been made.
All Sources include those stated above and:
a) any amount the Employee receives, or is entitled to receive, from:
i) any group, association or franchise plan;
ii) any retirement or pension plan;
iii) earnings or payments from any employer, including severance payments and vacation pay;
v) any government plan, excluding Employment Insurance Benefits; and
b) any amount of Canada or Quebec Pension Plan, including Canada or Quebec Pension Plan Retirement benefits, excluding dependent benefits, which another member of the Employee’s family receives, or is entitled to receive by reason of the Employee’s disability.