There are currently 5 terms in this directory beginning with the letter C.
Co-ordination of Benefits
If a person has health and/or dental coverage with more than one insurer, co-ordination of benefits allows for the payment of eligible expenses from all plans, up to a total of 100%.
Consumer Price Index (CPI)
Provides a broad measure of the cost of living in Canada.
On termination of group Life Insurance, a plan member may apply to receive an individual life policy without providing evidence of insurability.
Cost of Living Adjustment
If this option has been included in a Long Term Disability plan, a disabled plan member’s benefit amount is increased to offset inflation following one full year of benefit payments. The adjustment is based on the average Canadian Consumer Price Index for the previous October 1st to September 30th, but will not exceed a specified percentage as outlined in the group contract.
On behalf of an employer, an administrator will pay eligible medical and dental expenses. The employer agrees to pay the cost of the claim plus an administration fee and taxes. Learn more about MDM’s Cost Plus Program.