Group Benefits

While Canadians have access to public health insurance, personal health insurance can help to cover health expensive that are not funded by provincial plans. Personal health benefits can allow you to benefit from specialized services, and help to lower your risk of being burdened by extensive medical bills.

Dental insurance can help to offset the expenses of dental treatments for both plan members and their dependents. Typically, dental care services are grouped into three major categories: basic, major restorative, and orthodontics. Dental insurance can help individuals to access necessary treatment and can encourage individuals to support healthy habits.

Prescription drug coverage is one of the most important features of a benefits plan as prescription drugs typically account for 60-80% of an individual’s claims. Workplace prescription drug coverage ensures that employees have access to the medications that they require.

Travel insurance can protect you and your family from significant medical expenses associated with emergency treatment for injuries or illnesses that occur while travelling outside of your home province. Travel insurance can protect you from certain financial risks and losses that could occur while traveling.

Life insurance provides you, and your loved ones, with a financial safety net. Life insurance can allow you to provide financial security to your loved ones in the event of your passing, to ensure that they are taken care of now, and in the future.

Disability benefits are designed to replace a portion of an individual’s income if they become ill or injured, and cannot work. Employers typically sponsor a combination of short- and long-term disability coverage to assist their members. Disability insurance can help to replace your income, to cover your expenses, and to protect your savings.

An employee assistant program is an employment benefit that is offered at no cost to employees, and provides support to help individuals resolve or manage problems that can interfere with their ability to perform their work. Employee assistant programs can help with serious health concerns, family issues, and stress.

A retirement plan refers to the saving, investing, and distributing of money to sustain oneself during retirement. Retirement planning considers not only assets and income, but also future expenses, liabilities, and life expectancy to ensure that you are able to enjoy your wealth during retirement.

A healthcare spending account is an individual employee account that reimburses employees for eligible health care expenses or other benefits that are not covered under provincial health insurance plans or other benefit plans.

When it comes to buying life insurance, it’s important to know your options. There are two basic life insurance options: term and permanent. Term life insurance lasts for a specific, pre-set period, while permanent life insurance lasts for your entire lifetime. Understanding the difference between term and permanent life insurance can help you choose the best option for you and your family. Some of the key differences between term and permanent life insurance are the length of coverage, the cost of the premium, the cash value, and the death benefits.

In the event of a health emergency, such as a heart attack or stroke, critical Illness insurance can allow you to focus on your recovery, without having to worry about finances. While many people assume they are protected against serious illness with a standard health insurance plan, critical illnesses typically incur greater-than-average medical costs.

Critical insurance insurance can pay for costs that are not covered by traditional insurance. Critical illness insurance gives you the ability to cover daily costs, to protect your retirement savings, and to receive both medical help and support services including transportation expenses, child care, and so on.

As a business owner, ensuring and protecting the longevity of your company should be an important part of your financial plan. When companies have more than one shareholder, it is recommended that the shareholders enter into a buy-sell agreement. The most common instance covered by a buy-sell agreement is the death of a partner. Your business can be severely disrupted if one partner dies, or leaves due to retirement, bankruptcy, or an unresolved business dispute. A buy-sell agreement can protect your business from the damage of losing a partner, and cover the terms of ownership and the operation of your business.

Key person insurance is a life insurance policy that can help to protect your business if an important employee is unable to work. A company can purchase a key person life insurance policy on the life of the owner, an executive, or another individual who is critical to the success of the business.

Key person insurance can provide companies with a financial cushion if the sudden loss of an individual would negatively affect the company's operations or cause the company major financial harm. For key person insurance, the company purchases the life insurance policy on a certain employee, pays the premiums, and is the beneficiary.

Voluntary benefits are supplemental benefits that employers can offer their employees. Often, this includes various health, dental, vision, and wellness options. Voluntary benefits can be beneficial to both employers and employees as they can help to relieve the burden of healthcare expenses, and there are low direct costs.

Typically, voluntary benefits are paid for by the employee rather than the employee. Even though the employee pays for the benefits, they are often offered group rates that they wouldn’t be provided on their own.

If an accident or illness has prevented you from working, disability insurance can provide you with a tax-free monthly payment to replace your income. Disability insurance can help to replace your income, to cover your expenses, and to protect your savings.

Many variables affect the cost of disability insurance, including the amount of income to be replaced, the length of time in which benefits are paid, the individual’s medical history; and the length of time policyholders must wait before beginning to collect those benefits.