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Disability (Short and Long Term)

Disability insurance bridges the gap between income and expense if you become disabled and are unable to earn an income. A disability can result from several 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.

Short Term – this benefit allows for Employment Insurance (EI) integration. The STD benefit can pay benefits for the periods before and after the E.I. Sickness benefit. Alternatively, the STD benefit can be “wrapped around” the E.I. benefit. This type of plan would pay benefits for the periods before and after the E.I. benefit.

Long Term – The most important element of this benefit is the definition of disability. There are two basic definitions of disability, both relating to an individual’s ability to work: own/regular occupation and any occupations. Disability benefits are generally based on a fixed percentage of pre-disability earnings. For lengthy disabilities, inflation can substantially diminish the value of the benefit. To reduce the impact of inflation, many companies offer a Cost of Living Adjustment option.

Services

Life Insurance

Basic life insurance pays a pre-specified amount (typically based on employee’s earnings or a flat amount) in the event of the death of an employee from any cause.

Accidental Death & Dismemberment (AD&D)

Provides protection if a plan member incurs either 1) a loss, or 2) loss of use of: life, limb, sight, hearing, and/or speech due to an accidental injury.

Disability (Short and Long Term)

Disability insurance bridges the gap between income and expense if you become disabled and are unable to earn an income.

Critical Illness

Critical illness coverage bridges the gap found in most traditional employee benefit plans.

Extended Health Care

Designed to supplement existing provincial hospital and medical insurance plans. The benefit allows for reimbursement of expenses and/or services not covered by existing government plans.

Employee Assistance Program (EAP)

An employee benefit program that assists employees with personal problems and/or work-related problems that may impact their job performance, health, mental and emotional well-being.

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