Is there a maximum amount of long-term disability benefits I can receive in Toronto?

Yes, there is typically a maximum amount of long-term disability (LTD) benefits you can receive in Toronto, as it depends on the terms of your specific insurance policy. Here are some key factors that determine the maximum benefits:

• Percentage of Your Income: Most LTD plans provide benefits equal to a percentage of your pre-disability income, usually ranging from 60% to 85%.
• Policy Maximums: Some policies have a cap on the monthly benefit amount. For example, your plan might state that you can receive 70% of your income, up to a maximum of $5,000 per month.
• Offsetting Income Sources: Your LTD benefits might be reduced if you’re receiving income from other sources, such as Canada Pension Plan (CPP) disability benefits or a workers’ compensation program.
• Employer vs. Private Plans: Whether your LTD insurance is provided through an employer or purchased privately can also impact the maximum benefit levels.

To determine the exact maximum amount you can receive, review your insurance policy or contact your insurance provider directly. If you’re unsure how to get started, consider consulting a lawyer who specializes in disability benefits in Ontario. They can help you navigate the process and ensure that you receive the maximum benefits you’re eligible for.