Jun 17, 2015
The short answer would be a qualified yes.
If you purchase optional benefits, you will protect you and your family in the areas that you purchased these benefits.
For example, if you are a high income earner, you have the right to obtain optional income replacement benefits which could increase your weekly income replacement benefits from the $400.00 per week standard policy maximum to $1,000.00 per week.
You can also purchase optional medical rehabilitation benefits, attendant care benefits, housekeeping and home maintenance benefits, and indexation benefits. As a person who is in the business, I will always recommend purchasing optional benefits.
However, there are three categories of injuries, and therefore three categories of benefits available to injured parties, which the government has legislated into law and some categories do not allow for access to optional benefits even if you had the foresight to purchase them.
For example, if a person suffers a minor injury, they are not entitled to access attendant care. Simply put, there are two benefits available, an income replacement benefit/non-earner benefit and medical and rehabilitation benefits of up to $3,500.00. There are many circumstances where treatment costs exceed $3,500.00, the maximum cap under the Minor Injury Guideline.
Therefore, the question one should ask themselves is, is it worth it? As stated above, my qualified answer is yes. However, in these not so unique circumstances, you may be purchasing insurance coverage that you do not have the ability to access.
Is this fair? No.
The government has written new legislation with the insurance industry in mind and insurance companies are taking your monthly premiums and not paying them out when required.
If you want to change the legislation, I suggest that you write letters or call your MPP and advise him or her of your extreme dissatisfaction.