Group benefits provide insurance coverage to a group of people and are often offered by ones employers. It can also be offered by professional associations, unions, or other organizations. Offering benefits can be an important way to support the well-being of employees, improve employee satisfaction and engagement, and foster a positive company culture.
Fully Insured Benefit Plans
These are the traditional health and dental plans supported by insurance companies.
Self Insured / Administrative Services Only (ASO)
Working with a third party to administer the plan but claim payments are the employers responsibility.
Flexible Health & Wellness Accounts
These act as allowances provided to the employee by the employer and have tax benefits.
Life Insurance
Life Insurance is more than personal income replacement and debt protection. It can help a business owner ensure their business lives past their death, provides a payout to their family members and ensures a tax-free transition of wealth from one generation to the next.
Key Person Protection
If a key person passed away, would the business survive? Would you want to replace their lost earning potential? By insuring a multiple of the key persons income, the business can take time to find a suitable replacement.
Buy / Sell Insurance
Is there an agreement to fund the buy-sell clause in the partnership agreement if one partner passed away? By insuring each partner’s share value, the surviving business partner can pay out the deceased’s spouse so they cannot claim their share of the business.
Corporate Estate Planning
Life insurance through a corporation can act as a hedge against other risk profiles, increase the wealth being transferred to your heirs, create liquidity, and alleviate family fighting on the estate.
Charitable Planning
Life insurance is a cost-effective method of charitable giving. It allows funds to flow to a charity in a tax efficient manner while preserving the donor’s estate.
Disability Insurance
An injury or illness has the potential to derail your business overnight. Corporate disability insurance is an effective and tax efficient way to protect your business and your future.
Key Person Protection
Would the business suffer if a key person were disabled? This allows the business to use the lost earnings to take their time to find a suitable replacement.
Buy / Sell Insurance
If one partner became ill or injured, where would the required funding come from to buy them out? This allows the working business partner to buy out the disabled partner.
Executive Compensation Strategies and Wage Loss Replacement Plans
Employees want more than a competitive salary when choosing a company to work with. These plans offer cost effective income replacement options that financially compensate the employee and are a tax-deductible expense to the employer.
Student Opportunities
As a student, you have spent your entire life in school and likely accumulated debt, insurance planning is an effective tool to protect that debt and your future earning potential.
Life Insurance
Provincial association plans are nice enough to wipe away debt upon death, but banks and creditors are not. Obtaining life insurance to cover your student loans protects your loved ones from paying back your debt.
Disability Insurance
Did you know that a 25-year-old earning $85,000 annually with a 5% increase adjusted for inflation will earn $10,267,981 by age 65? Why would you leave that unprotected? Disability insurance for students protects your future earning potential and does so with lifetime discounts, free months and additional benefits only new graduates are eligible for.
