Employee Group Benefits is definitely my preferred type of insurance. The main reason for this is that Group Insurance reaches out and covers a lot of people that otherwise would never benefit from insurance coverage. Group Insurance includes:
Life insurance (fixed amount or based on annual earnings);
Accidental Death and Dismemberment Insurance (usually the same amount as the Life Insurance);
Extended Health Coverage (medical services not covered by the provincial health plan OHIP, like prescription drugs, chiropractors, massages, podiatrists, vision care and many others);
Dental Coverage;
Short Term Disability and
Long Term Disability.
In addition to the great importance to have this comprehensive coverage for yourself and your family another great feature is that the premiums for the insurance are paid by the company and are deducted from the company's income as tax deductible expense, and they are not a taxable benefit to the employee. It means that if you are the owner of a business, where the only two employees are you and your wife*, instead of drawing money from the business, paying taxes on it and then paying your dental bills, you could buy Group Insurance, pay the premiums from the business as a tax deductible expense and the insurance will cover your dental bills. I repeat, the premium paid by the business is not a taxable benefit to you. The tax saving goes directly into your pocket. I can offer you Group Coverage from the largest insurance company in Canada - Manulife Financial. If you take some time to view this presentation you will understand why. Click here to ask for Group Insurance quote. You may download the Request for Quotation Form to familiarize yourself with the existing options and fill it to speed up the application process. * In order to get a Group benefits Plan from Sun Life Financial and Great West Life you need to have at least three members.
Employee Group Benefits
Always Ask For The Best! My recommendations are based on plans offered by Manulife Financial, Sun Life Financial and Great West Life