FAQ
Motor Vehicle Claims - Disibility Insurance - Residential Insurance - Estate Planning
Motor Vehicle Claims:
What is a minor injury?
A minor injury is classified as an injury that does not affect your work, school and/or activities of a daily living for longer than 12 months. If you sustain a concussion or psychological injury, this time period is reduced to 16 weeks.
Who decides whether my injury is minor?
An ICBC Claim Specialist determines if your injury is classified as a minor injury. They will obtain a medical report from your doctor and will base their findings on your doctor’s diagnosis.
Am I entitled to claim for lost income?
If you are unable to work as a result of your injuries, and this is supported by your doctor, you may be entitled to income replacement benefits. These benefits commence 8 days after your accident and will cover 90% of your net income up to a maximum for $100,000 gross. If you have disability benefits available through your employer or another insurance provider, you must first apply for these benefits. You should immediately contact your employer/insurer to see if you qualify.
Disability Insurance:
Should I purchase disability insurance? If so, how much?
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How does “the new ICBC” affect my need for disability insurance?
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How are my disability payments calculated?
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Residential Insurance:
What losses does my home insurance cover?
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Why would an insurance company deny my claim?
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How does an insurer calculate payment for my loss?
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How do I get fair value for my loss?
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Estate Planning:
Do I need a will?
Yes. A Will ensures that your Estate will be distributed to the people and organizations that you value. If you do not have a Will, your Estate will be distributed pursuant to the legislation. If you have minor children, a Will can stipulate their guardians and can provide instructions concerning their inheritance and care. If you die without a Will, the Court will make the decision concerning guardianship of your minor children.
Can I vary a will?
Yes. If you are making minor changes, you can vary your Will at any time by signing a Codicil. If there have been major changes in your life, i.e. death, marriage, separation, divorce, or your children are no longer minors, it is recommended that you prepare a new Will to ensure your Estate is properly distributed.
What are my responsibilities as Executor?
As an Executor, you are responsible for the management and safe-keeping of the Estate. This includes maintaining/selling of assets, ensuring valid insurance remains in place, applying for pensions and benefits on behalf of the deceased, filing of taxes, and management of investments to name a few. Basically, you are required to fulfil all legal obligations of the deceased and maintain an accounting of all assets, debts, expenses and income of the Estate.