• Identify potential sources of income that an individual may draw from upon becoming disabled, such as:
• Spousal income
• Employment Insurance benefits
• Canada Pension Plan benefits
• Workers’ compensation benefits
• Other government-related disability programs
• Group insurance plans
• Individual insurance plans
• Savings
• Family and friends
• Sale of assets
• Identify types of disability insurance policies that may be available.
• Individual
• Group
• Identify that an individual disability insurance policy may be obtained from an insurance company. 
• Identify sources of group disability insurance policies, such as:
• Insurance companies
• Employer-sponsored
• Creditor protection
• Association-sponsored
• Identify factors that may impact an individual’s ability to qualify for disability insurance, such as:
• Medical
• Age
• Health history
• Financial
• Net worth
• Income (earned and unearned)
• Other disability plans in place
• Occupation
• Lifestyle
• Identify policy provisions associated with disability insurance contracts, such as:
• Definition of the contract
• Definition of earnings
• Definition of disability
• Definition of occupation
• Terms associated with continuation of policy
• Contestability period
• Terms associated with provision of benefits
• Limitations
• Exclusions
• Riders 
• Identify definitions of earnings that may be used in a disability insurance policy, such as:
• Base salary
• Base salary plus bonuses
• Base salary plus commissions
• Average earnings over period of time
• Net income of self-employed individual
• Net income plus add-back for perquisites
• Define definitions of disability on which a disability policy may be based, such as:
• Total disability
• Presumed total disability
• Residual disability
• Partial disability                                             
• Define definitions of occupation on which a disability policy may be based, such as:
• Own occupation
• Regular occupation
• Any occupation
• Define terms associated with the continuation of a disability policy, such as:
• Non-cancellable
• Guaranteed renewable
• Conditional renewable
• Commercially renewable
• Cancellable
• Define terms associated with the provision of a benefit under a disability insurance policy, such as:
• Qualification or waiting period
• Elimination period
• Benefit period
• Identify factors that may impact the premium of a disability insurance policy, such as:
• Definition of earnings
• Definition of disability
• Definition of occupation
• Terms associated with the continuation of the policy
• Length of qualification or waiting period
• Length of elimination period
• Length of benefit period
• Identify types of limitations that an insurer may impose on a disability policy, such as:
• Maximum monthly, annual or lifetime dollar amount of benefit payable
• Maximum percentage of income replacement
• Benefit based on taxable or non-taxable income
• Benefit limited by integration with other plans
• Identify the purpose of limitations in a disability policy.
• Ensure that the insured individual does not profit from the receipt of benefits
• Provide incentive to the individual to return to employment duties
• Identify potential provisions included in a disability insurance policy that provide incentive to an individual to return to work, such as:
• Rehabilitation benefit provision
• Recurrent disability provision
• Identify exclusions that may be included in a disability insurance policy, such as:
• Acts of war
• Normal pregnancy
• Pre-existing conditions
• Criminal offences
• Air travel other than fare-paying passenger
• High-risk recreational activities (e.g., mountain climbing, scuba diving, car racing).
• Drug and alcohol abuse
• Intentionally self-inflicted injuries
• Attempted suicide
• Identify the purpose of riders that may be added to a disability insurance policy, such as:
• Guaranteed insurability (i.e., changes in health, occupation, increase in income)
• Cost of living adjustment
• Partial disability
• Health care providers’ infection
• Accidental death and dismemberment
• Return of premium
• Waiver of premium
• Retirement protection
• Identify the types of approvals that may occur upon adjudication of an application for disability insurance, such as:
• Approved as applied for
• Approved with revision to terms of policy
• Increased premium
• Reduced benefit amount
• Reduced benefit period
• Extended elimination period
• Exclusions based on medical history or lifestyle
• Define approaches to determine a suitable amount of disability insurance coverage for an individual, such as:
• Cash flow replacement needs
• Income replacement
• Identify elements that may be considered when structuring disability insurance coverage, such as:
• Definition of disability
• Definition of occupation
• Ability to self-fund during qualification or waiting period
• Ability to self-fund during elimination period
• Length of benefit period
• Maximum benefits payable
• Integration with other sources of income
• Continuation provisions
• Earning potential
• Affordability

• Identify potential sources of income that an individual may draw from upon becoming disabled, such as:
• Spousal income
• Employment Insurance benefits
• Canada Pension Plan benefits
• Workers’ compensation benefits
• Other government-related disability programs
• Group insurance plans
• Individual insurance plans
• Savings
• Family and friends
• Sale of assets
• Identify types of disability insurance policies that may be available.
• Individual
• Group
• Identify that an individual disability insurance policy may be obtained from an insurance company. 
• Identify sources of group disability insurance policies, such as:
• Insurance companies
• Employer-sponsored
• Creditor protection
• Association-sponsored
• Identify factors that may impact an individual’s ability to qualify for disability insurance, such as:
• Medical
• Age
• Health history
• Financial
• Net worth
• Income (earned and unearned)
• Other disability plans in place
• Occupation
• Lifestyle
• Identify policy provisions associated with disability insurance contracts, such as:
• Definition of the contract
• Definition of earnings
• Definition of disability
• Definition of occupation
• Terms associated with continuation of policy
• Contestability period
• Terms associated with provision of benefits
• Limitations
• Exclusions
• Riders 
• Identify definitions of earnings that may be used in a disability insurance policy, such as:
• Base salary
• Base salary plus bonuses
• Base salary plus commissions
• Average earnings over period of time
• Net income of self-employed individual
• Net income plus add-back for perquisites
• Define definitions of disability on which a disability policy may be based, such as:
• Total disability
• Presumed total disability
• Residual disability
• Partial disability                                             
• Define definitions of occupation on which a disability policy may be based, such as:
• Own occupation
• Regular occupation
• Any occupation
• Define terms associated with the continuation of a disability policy, such as:
• Non-cancellable
• Guaranteed renewable
• Conditional renewable
• Commercially renewable
• Cancellable
• Define terms associated with the provision of a benefit under a disability insurance policy, such as:
• Qualification or waiting period
• Elimination period
• Benefit period
• Identify factors that may impact the premium of a disability insurance policy, such as:
• Definition of earnings
• Definition of disability
• Definition of occupation
• Terms associated with the continuation of the policy
• Length of qualification or waiting period
• Length of elimination period
• Length of benefit period

• Identify exclusions that may be included in a disability insurance policy, such as:
• Acts of war
• Normal pregnancy
• Pre-existing conditions
• Criminal offences
• Air travel other than fare-paying passenger
• High-risk recreational activities (e.g., mountain climbing, scuba diving, car racing).
• Drug and alcohol abuse
• Intentionally self-inflicted injuries
• Attempted suicide

• Identify the types of approvals that may occur upon adjudication of an application for disability insurance, such as:
• Approved as applied for
• Approved with revision to terms of policy
• Increased premium
• Reduced benefit amount
• Reduced benefit period
• Extended elimination period
• Exclusions based on medical history or lifestyle

Additional Knowledge Expected of CFP Professionals

• Explain types of limitations that an insurer may impose on a disability policy, such as:
• Maximum monthly, annual or lifetime dollar amount of benefit payable
• Maximum percentage of income replacement
• Benefit based on taxable or non-taxable income
• Benefit limited by integration with other plans
• Explain the purpose of limitations in a disability policy.
• Ensure that the insured individual does not profit from the receipt of benefits
• Provide incentive to the individual to return to employment duties
• Explain potential provisions included in a disability insurance policy that provide incentive to an individual to return to work, such as:
• Rehabilitation benefit provision
• Recurrent disability provision

• Explain the purpose of riders that may be added to a disability insurance policy, such as:
• Guaranteed insurability (i.e., changes in health, occupation, increase in income)
• Cost of living adjustment
• Partial disability
• Health care providers’ infection
• Accidental death and dismemberment
• Return of premium
• Waiver of premium
• Retirement protection

• Estimate the need for disability insurance.

• Explain approaches to determine a suitable amount of disability insurance coverage for an individual, such as:
• Cash flow replacement needs
• Income replacement
• Explain factors that may be considered when structuring disability insurance coverage, such as:
• Definition of disability
• Definition of occupation
• Ability to self-fund during qualification or waiting period
• Ability to self-fund during elimination period
• Length of benefit period
• Maximum benefits payable
• Integration with other sources of income
• Continuation provisions
• Earning potential
• Affordability

• Explain characteristics that may be used when comparing individual and group disability insurance policies.
• Ownership and control
• Cancellability
• Period of coverage
• Portability
• Termination options
• Application requirements
• Definition of disability
• Definition of occupation
• Evidence of insurability requirements
• Time of underwriting (pre- or post-claim)
• Benefit recipient
• Optional riders
• Premium guarantees
• Premiums
• Tax impact