Common use of Waiting Period and Benefits Clause in Contracts

Waiting Period and Benefits. In the event an employee, while enrolled in this Plan, becomes totally disabled as a result of an accident or sickness, then, after the employee has been totally disabled for five months the employee shall receive a benefit equal to 70% of the first $2800 of the pre-disability monthly earnings and 50% on the pre-disability monthly earnings above $2800 or 66⅔% of pre-disability monthly earnings, whichever is more. The $2800 level is to be increased annually by the increase in the weighted average wage rate for employees under the Collective Agreement for the purpose of determining the benefit amount for eligible employees as at their date of disability. It is understood that this adjustment will only be applied once for each eligible employee, i.e., at the date of the disability, to determine the benefit amount to be paid prospectively for the duration of entitlement to benefits under the LTD Plan.

Waiting Period and Benefits. (1) In the event an employee, while enrolled in this Plan, becomes totally disabled as a result of an accident or sickness, then, after the employee has been totally disabled for five months the employee shall receive a benefit equal to 70% of the first $2800 of the pre-disability monthly earnings and 50% on the pre-disability monthly earnings above $2800 or 66⅔% of pre-disability monthly earnings, whichever is more. The $2800 level is to be increased annually by the increase in the weighted average wage rate for employees under the Collective Agreement collective agreement for the purpose of determining the benefit amount for eligible employees as at their date of disability. It is understood that this adjustment will only be applied once for each eligible employee, i.e., at the date of the disability, to determine the benefit amount to be paid prospectively for the duration of entitlement to benefits under the LTD Plan.

Waiting Period and Benefits. In the event an employee, while enrolled in this Plan, becomes totally disabled as a result of an accident or sickness, then, after the employee has been totally disabled for five months the employee shall receive a benefit equal to 70% of the first $2800 of the pre-disability monthly earnings and 50% on the pre-disability monthly earnings above $2800 or 66⅔% of pre-pre disability monthly earnings, whichever is more. The $2800 level is to be increased annually by the increase in the weighted average wage rate for employees under the Collective Agreement collective agreement for the purpose of determining the benefit amount for eligible employees as at their date of disability. It is understood that this adjustment will only be applied once for each eligible employee, i.e., at the date of the disability, to determine the benefit amount to be paid prospectively for the duration of entitlement to benefits under the LTD Plan.