Looking for a group plan specifically tailored to meet the needs of your business?
As a contracted broker to nearly every group insurance carrier in the province of B.C. , Christy Insurance will survey the entire group market to find the insurance carrier offering the best plan at the most affordable rate. This will leave you to the things you do best, like running your own business. Let a Christy Insurance broker work with you to design a plan that is both a comprehensive and cost effective method of ensuring the benefit needs of your employees are met. Group Insurance is a complex and time consuming product to administer let alone negotiate. A Christy Insurance advisor will not only aid you in developing your employee benefits, but will assist you in the management of its use over the life of the plan. We at Christy Insurance believe that a group benefits plan should never be static. In fact, it should be monitored and managed to address the ongoing changes in your ever evolving business.
What types of benefits comprise a group plan?
Select a coverage type below for more information:
- Life Insurance
- Accidental Death and Dismemberment Insurance
- Dependant Life Insurance
- Short Term Disability Insurance
- Long Term Disability Insurance
- Extended Health Care Coverage
- Dental Care Coverage
Life Insurance:
In the form of yearly renewal term insurance, this benefit can either be a flat amount or is expressed as a percentage of an employee's annual salary. It is paid to the beneficiary of the life insured in the event of their death.
Accidental Death and Dismemberment Insurance:
Also known as double indemnity insurance, AD&D insurance mirrors the life insurance benefit and is payable in the event of an accidental death, providing the insured's beneficiaries with a total of two times the life insurance amount. There is a specific payout schedule set up in the event of dismemberment or life altering injuries.
Dependant Life Insurance:
Payable in the event of the death of a spouse or child.
Short Term Disability Insurance:
Short term disability insurance is a benefit payable in the event that an employee becomes sick injured or disabled and is unable to work. A weekly benefit, determined from a percentage of the employee's salary is paid once the waiting period has been satisfied. The waiting period can be as low as zero days for both an injury related to an accident or illness. Short Term disability premiums are generally paid for in full by the employee making the benefit received non taxable in the hands of the employee. If the employer pays for any portion of the STD premiums, the benefit will be taxed. Employers should note that having a Short Term Disability plan in place for their employees makes them eligible for a reduction in their EI premiums.
Long Term Disability Insurance:
Long Term Disability Insurance is a monthly benefit payable to the member following a disability that keeps them out of work for longer than the waiting period (generally 119 days or 17 weeks). Like Short Term Disability insurance, the benefit is considered non taxable only if the employee is paying 100% of the premiums. Group Long Term Disability is the most cost effective method of insuring employees for unexpected circumstances that can damage their ability to earn income over the course of their working years.
Extended Health Care Coverage:
Probably the most well known component of group coverage, extended health care coverage picks up where your government Medical Services Plan leaves off. Prescription drug coverage, professional services (physiotherapists, massage therapists, chiropractors, etc.), medical services and supplies, private hospital rooms, private duty nursing, are just some of the many benefits that combine to make up the extended health care portion of a group plan.
Dental Care Coverage:
Dental care coverage is predominantly broken down into 3 different categories of coverage.
|
 |
For more information contact us, or click here to get a quote online. |
