FAMILY INSURANCE PLANNING

Sam Esaw,
CFP, CLU, CHFC
Certified Financial Planner
Insurance Consultant &
Mutual Fund Advisor
sam@familyinsuranceplans.com

Also visit:
www.familyfinancialplans.com
www.familyinsuranceplans.savetax.ca


www.familyinsuranceplans.com
22500 Cochrane Drive
Richmond, B.C. V6V 2R1

Cell: (778) 999-7768
Fax: (604) 526-1321


Income Qualification Table

annual net income maximum monthly benefits annual net income maximum monthly benefits annual net income maximum monthly benefits
18,000 1,150 57,000 2,900 170,000 5,700
20,000 1,200 59,000 3,000 180,000 5,900
21,000 1,250 62,000 3,100 190,000 6,100
22,000 1,300 65,000 3,200 200,000 6,300
23,000 1,350 68,000 3,300 210,000 6,500
24,000 1,400 72,000 3,400 220,000 6,700
25,000 1,450 75,000 3,500 230,000 6,850
26,000 1,500 77,000 3,600 240,000 7,050
27,000 1,550 82,000 3,700 250,000 7,250
28,000 1,600 85,000 3,800 260,000 7,450
29,000 1,650 88,000 3,900 270,000 7,600
30,000 1,700 93,000 4,000 280,000 7,800
31,000 1,750 97,000 4,100 290,000 8,000
32,000 1,800 102,000 4,200 300,000 8,200
33,000 1,850 106,000 4,300 310,000 8,350
35,000 1,900 110,000 4,400 320,000 8,550
37,000 2,000 115,000 4,500 330,000 8,700
38,000 2,100 120,000 4,600 340,000 8,850
40,000 2,200 124,000 4,700 350,000 9,100
42,000 2,300 128,000 4,800 360,000 9,200
45,000 2,400 132,000 4,900 370,000 9,350
48,000 2,500 136,000 5,000 380,000 9,500
50,000 2,600 140,000 5,100 390,000 9,650
53,000 2,700 150,000 5,300 400,000 9,800
55,000 2,800 160,000 5,500

For amounts of Annual Net Income between those listed above, the lower figure is used.

For incomes over $400,000 the Maximum Monthly Benefit is increased by $150 for each additional $10,000.

The Maximum Monthly Benefit to which you are entitled from all sources other than CPP/QPP is based on your Net Income as described in the definitions below:

"Net Income" means your "Earned Income" after the deduction from such income of the business expenses that can be claimed as a deduction for tax purposes from such income; but before deduction of any income or corporate taxes payable on such income.

"Earned Income," for purposes of this table, may be defined as the income earned by you for your services during the year whether paid in the form of salary, wages, bonus, commission, fee or honorarium and whether paid directly to you or to a Firm in which you are a partner or to a Corporation effectively owned by you or owned by you and your partners or owned by you and relatives of yours.

* Not more than $8,000 per month can be long term benefits, the excess must have a benefit period of 3 years or less.

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