Manitoba Public Insurance provides Income Replacement under The Personal Injury Protection Plan (PIPP) when you are injured in a motor vehicle accident and the injury prevents you from performing all or most of the main daily duties of the job you had at the time of the accident.

The Income Replacement benefit is available to Manitobans who were working, full or part-time, or could have been working when the accident occurred. 

Income Replacement covers 90 per cent of net employment insurance benefits, lost wages or salary based on gross yearly employment income up to a maximum amount that is adjusted annually.  The gross yearly income maximum amount for 2018 is $96,000.

Manitobans earning more than $96,000 annually in 2018 and who have no other disability insurance, may want to purchase an Income Replacement Indemnity (IRI) Extension Coverage policy for further peace of mind.  The Income Replacement Extension Coverage is available in increments of $10,000. up to a maximum limit of $200,000 over the basic limit of $96,000 (2018). This provides protection for a total annual income of $296,000 in 2018. 

Income Replacment Indemnity Extension Coverage also adds protection in two other areas affected by gross yearly income:

1. Fatality payments: Income Replacment Indemnity Extension Coverage will mean higher payments to your spouse, common-law partner or if you're a single parent, your dependants, if the auto accident results in your death. These payments are calculated using your extended Income Replacment Indemnity Coveragee, rather than the Personal Injury Protection Plan's limit of $96,000 (2018).
2. Retirement Income Benefit: If you qualify for a Retirement Income Benefit, your payments may be greater because the calculation uses your extended Income Replacment Indemnity Coverage rather than the Personal Injury Protection Plan's limit of $96,000 (2018).

Let Team Insurance Brokers Inc. quote Income Replacement Indemnity Extension Coverage for you.  We are here to help you make your decision on whether Income Replacement Extension Coverage is right for you.