 | | | Earn CE Credits and Grow Your Business  Selling Wage Loss Replacement Plan (WLRP) makes selling disability insurance easier. It is a disability income replacement program set up by an employer for a group of employees. Unlike group insurance solutions, a WLRP comprises individual disability income protection insurance policies grouped together under a common plan. Take a look at what WLRP offers you, your employer and their employees.
 Why sell WLRP instead of a group disability plan? See below.
| Features | WLRP | Group Plan |
|---|
| Individual non-cancellable or guaranteed renewable policies with terms and conditions locked in at issue | Yes | No | | Possibility to lock in future pricing at issue | Yes | No | | Insurance portable upon termination | Yes | Maybe | | Availability of optional benefits such as partial and residual benefits, cost of living, etc. | Yes | Maybe | | Disability definitions broad and comprehensive | Yes | Standard | | Cost of insurance protection compared to a group plan | Higher | Lower | | Employment insurance payor status | 1st payor | 2nd payor |
® / ™ Trademark(s) of Royal Bank of Canada. Used under licence.
Underwritten by RBC Life Insurance Company.
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