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Small Business (3-50 Employees)

1. Life insurance 

Life Insurance helps to ease the financial strain on an employee’s family by providing a non-taxable lump sum benefit to the family should the employee pass away.

  • Choose to offer a flat coverage amount or a multiple amount of the employee’s salary
  • An employee may be eligible to convert to an individual policy if he or she leaves the company
  • Premiums may be waived up to age 65 if the employee becomes disabled

In addition to life insurance for employees, some carriers also offer coverage for an employee’s spouse and dependents.

2. Optional Life Insurance 

Optional Life Insurance is a benefit for employees, spouses and dependents who want more coverage than the basic policy provides.

  • Employees can buy additional coverage at no extra cost to your company
  • Employees can easily pay for their coverage through payroll deductions

3. Accidental Death and Dismemberment Insurance

Accidental Death and Dismemberment (AD&D) Insurance provides an employee’s beneficiary with a benefit amount if an accident results in death, or financial compensation to the employee if an accident results in the loss of a limb, eyesight, hearing, speech or paralysis. Some carriers also offer some additional benefits as follows –

  • Additional ancillary financial benefits are provided to cover day care for children
    • Rehabilitative physical therapy benefits are also offered

4. Extended health benefits

Extended health benefits provide protection against the high cost of medical services and treatments not covered by the province’s health care plan. Coverage can include preferred hospital accommodation, ambulance, accidental dental, psychology services, hearing aids, and much more. This can lead to significant outofpocket expenses for you and your employees.

  • Wheelchair — rental $50 to $200 per month, purchase $1,000 to $2,000
  • Home nursing care — RN – Up to $10,000 per year
  • Podiatrist — Between $300 – $1,000 per year 
  • Chiropractor — Between $300 – $1,000 per year
  • Psychologist — Between $300 – $1,000 per year
  • Massage Therapist (RMT) – Between $300 – $1,000 per year
  • There are other practitioners like Acupuncturist, Physiotherapist, and Naturopath which varies from carrier-to-carrier. 
  • Wheelchair — rental $50 to $200 per month, purchase $1,000 to $2,000

5. Prescription drug coverage

Prescription drug coverage at various copayment levels including 100%, 80%, 70%. Choose either pay direct or reimbursement claims payments.

  • Direct bill: With direct bill, your employees pay only their portion of the prescription cost and the remainder is billed to us directly from the pharmacy.
  • Reimbursement: With reimbursement, employees pay the full cost of the prescription up front then submit a claim form with their receipt for payment.

6. Vision Care 

Vision coverage can be a relatively inexpensive, yet attractive, component of your benefit plan. As well as enhancing plan flexibility, vision coverage also helps demonstrate concern for your employee’s overall wellness—and can contribute to attracting high quality employees.

Depending on the number of employees you have, our vision coverage allows a choice of maximums and employee co-payments and includes coverage for contact lenses or intraocular lenses.

7. Dental

Basic & Major dental coverage is available in many percentage levels of coinsurance like, Basic can be at 70% or, 80% and Major Dental at 50% or, 60%, and includes:

  • Diagnostic services such as examinations, consultations and xrays
  • Preventative services including polishing, scaling and root planning, topical fluoride treatments and sealants
  • Restorative services including fillings and prefab or stainless steel crowns
  • Surgical procedures such as exams, extractions and sutures
  • Endodontic including exams and root canal therapy, and
  • Denture services such as reline and liners, repairs to existing dentures and tissue reconditioning.
  • Other dental benefits can be added to your coverage as well, including periodontics, extensive services (crowns and bridges) and orthodontics

8. Disability Benefits 

Disability insurance is designed to replace a portion of your income if you become disabled and are unable to earn an income. A disability can result from a number of causes, including an injury, a serious illness or a mental health issue.  And the duration of a disability can be either short- or long-term. There are different kinds of disability insurance coverage, including  group insurance & individual insurance plans , as well as government plans such as workers’ compensation and benefits provided under the Canada Pension Plan. Refer to the CLHIA guide (Hyperlink) which provides detailed information on disability plans.

9. Critical Illness

A living benefit that provides a lump-sum you can spend on anything you want if you are diagnosed with a specified covered illness.  Critical illness insurance can be suitable for anyone seeking financial protection to help cover the costs associated with recovering from a life-altering illness.  You receive the tax-free lump sum payment if you meet the survival period requirement for a covered critical illness and are free to spend money as you choose — such as to help cover lost income, to pay for private nursing or out-of-country treatment, for medical equipment or even to pay off your mortgage. It can help you where you need it most so you can focus all your energy on recovering.

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