Benefit from Our Wholesale Relationships,
Helping you Increase Coverage and Cut Costs. 

Employee Benefits

Basic Life Insurance

Coverage is mandatory with most group benefits packages and pays a lump sum tax free benefit to the named beneficiaries upon the death of the Insured. The amount of coverage differs between companies however the face amount is typically some multiple of income or a flat set amount.  Most plans provide coverage for the employee's spouse and dependents as well. Our Comprehensive approach to planning takes into account your existing group coverage when assessing your current life insurance need.

Consider: 
1) Is your group life insurance coverage is sufficient?

Extended Medical

Extended medical complements your provincial coverage by covering costs and services over and above what the provincial plan will cover.  A common example would be upgrading to a semi private or private hospital room or using the services of a message therapist. Services offered and coverage limits are chosen by the employer upon plan setup and can change from year to year. Travel Insurance coverage may also be included as a benefit. As part of our value add to our clients we do a full review of your employee benefits booklet and make sure that you understand your coverages and limits.

Dental

Due to the high cost of dental work this tends to be one of the most used portions of a group benefits program. Dental Coverage is usually broken down into 2 categories.  We make sure that you are getting the most out of your dental plan by outlining your coverage limits as well as making sure you have full integration between both spouses' plans. Benefits and plan designs vary greatly from one company to the next, however most group programs contain all or a portion of the following coverages.

- Basic (teeth cleaning and maintenance)
- Major(requires dental surgery).

Disability

Provides an income benefit to the insured should a disability claim arise.  The disability benefit begins at the end of a specified waiting period and continues until the insured person either returns to work, dies, or becomes eligible for pension benefits.  

Group Disability coverage is broken down into two categories: 

- Short Term Disability
- Long Term Disability

Be aware as group disability plans tend to have some gaps in coverage such as: 

- Low earnings coverage (without additional medical underwriting)
- ”Any occupation” definition of Disability after 2 years
- Coverage terminates when your employment is terminated, your retire, or your employer discontinues the group benefits program.
- Non-guaranteed rates.

Consider:
1) Get an individual Disability Plan that will allow you to “top up” your existing group coverage.  This will provide you with a plan that stays with you no matter where you are employed and will insure a higher percentage of your lost earnings.  Furthermore you are able to customize your personal disability plan to cover your specific occupation, account for inflation, return premium if there are no claims on the policy.  Looking at the risk of Disability within the context of the total impact to your family will allow us to help you determine if your coverage through work is sufficient or if there are additional risks that need to be addressed.
2) Meet with an Advisor to review the gaps in your current disability plan.

Critical Illness

Offers a lump sum cash benefit upon diagnosis of a qualified illness. This protection gives you the freedom to make choices regarding your treatment, care and recovery as well as financial independence during a difficult time often preserving your investments and assets. Coverage includes:

- Private Nurse
- Home care
- Special medical treatments inside or outside Canada
- Job or career retraining
- Daily living costs (food, mortgage or rent, taxes)

Be Aware as group Critical Illness plans tend to have some gaps in coverage such as:

- Limited covered conditions with more restrictive definitions
- Limited coverage amounts (without additional underwriting)
- When your employment terminates so does your coverage
- Non-guaranteed rates

Consider:  
1) An individual Critical Illness plan is often needed to increase the amount of coverage for an individual as well as allow that individual to have coverage regardless of their employment situation.  Rates are guaranteed on these policies and there is much more flexibility with regards to cost structure. Generally the definitions for the diagnosis of a critical illness are more favourable and there are a greater number of covered conditions. Riders such as Return of Premium can be added on as well.
2) Meet with an Advisor to understand your current group Critical Illness coverage and identify possible shortfalls.
3) Medical/Dental Coverage for Individuals.
4) To qualify as a group there must be a minimum of 3 employees.  For individuals who do not qualify as a group but still require some form of extended medical/dental coverage for themselves and their family, we are pleased to announce that we have partnered with Manulife in order to offer you the coverage you deserve.  Fill out the left to get a quote.





Sign in|Report Abuse|Print Page|Remove Access|Powered By Google Sites