Covered Person

For each of the following benefits, individual and group policies, the covered person is:

Death Benefit

Life insured

Health Expense

Person whose health status incurs the expense

Cash Value


Monthly Income

Payout Life Annuity

The person whose survival depends on the payout

Term Certain Annuity


Disability Income Insurance

Disabled life

Periodic Payment under Guaranteed Minimum Withdrawal Benefit


Periodic Payment from a RRIF


Periodic Payments under Long-term Care policies

The person whose health status determines payments

Accumulated Value

For individual policies


For group policies

Defined Contributions Plans – Plan Participant
Defined Benefit Plans – Plan Sponsor