Gain Momentum with Industrial Alliance Pacific


Industrial Alliance Pacific and its parent company Industrial Alliance Insurance and Financial Services Inc. has a disability insurance plan called Momentum. The base plan provides income replacement coverage from $500 to $4,000 per month in the event of a disability due to injury. The plan has three waiting period options—0 days, 30 days or 120 days, and a benefit period of 2 years or to age 60.

Riders can be added to extend coverage in the event of illness; business overhead protection and hospitalization riders are also available.

This plan has many limitations when compared with RBC Insurance, Canada Life and Manulife’s disability plans. The limitations are especially pronounced in the professional market—many professionals and other high-income earners require income protection in excess of $4,000 per month. The definition of disability is more restrictive with Industrial Alliance than that of its competitors, and certain riders, such as having the benefit increase with the cost of living or the ability to upgrade the plan without a medical, are not available.

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