In addition to commercial coverage options, our Special Risk Extension (SRE) options include some non-commercial extension products.
Income replacement
Income Replacement Indemnity (IRI) Extension coverage protects income beyond $120,000 (in 2025/26), up to a chosen limit, that is lost because of a disabling injury. This coverage adds to the IRI coverage all Manitobans have through the Personal Injury Protection Plan (PIPP).
You should consider it if you earn more than $120,000 annually and don’t have other disability insurance – through your work, for example.
IRI Extension allows you to extend your maximum limit on gross yearly income beyond the limit under PIPP. Like PIPP, it covers 90 per cent of your net income, with a seven-day waiting period. Compensation is based on proven lost income, just as it is under PIPP.
IRI Extension adds protection in two other areas affected by gross yearly income:
- Fatality payments: IRI Extension coverage will mean higher payments to your spouse, common-law partner or if you’re a single parent, your dependants, if you’re killed in an auto accident. These payments are calculated using your extended IRI coverage, rather than PIPP’s limit.
- Retirement Income Benefit: If you qualify for a Retirement Income Benefit, your payments may be greater because the calculation uses your extended IRI coverage rather than PIPP’s limit.
You can buy in increments of $10,000. The cost is $20 per increment, with a minimum policy premium of $50. You can buy up to $200,000 over the PIPP limit. However, remember: your income replacement is still based on actual income you’ve lost.