Group Life & Health Insurance
Canadian medical fees go beyond doctor and hospital visits. There is a long list of healthcare services not covered by your provincial government. As a result, we understand how much it means to your employees to have additional medical insurance. As Canadians, P.D. Foster Insurance understands how quickly these costs can add up. That’s why we’ve created a comprehensive selection of Group Life and Health Insurance policies to help your small business remain competitive and attract top talent.
What is Group Life Insurance?
Group life insurance policies are held by employers with amounts payable via either policy dividends, rating refunds, or upon the death or disability of an employee and any covered dependents. Many companies combine life insurance with retirement savings plans as part of a benefits package
What is Group Health Insurance?
Group health insurance, also known as “benefits,” covers medical costs not covered by provincial health care plans for your employees. The coverage usually includes a selection of health care services including:
- Prescription drugs
- Paramedical and ambulance services
- Medical prostheses, and more
You determine the percentage of costs and types of services covered by your policy. It is not uncommon for employers to include group life insurance as part of the benefits offered.
Why does my business need Group Lifeand Health Insurance?
Offering a Benefits or savings plan is the best way to attract top talent and retain your best performers. The cost is worth the investment at as low as 1% of your overall payroll. However, it also helps keep your workforce healthy.
As a small business, we understand this is a major consideration and has to make as little impact on your profits as possible. However, you need to remain competitive so you can attract the right people to keep your company growing.
Your benefit plan depends on comprehensive group life and health insurance to supplement provincial medical care as well as your employees’ life insurance policies. It just makes good business sense to help keep your employees healthy and happy with superior health care and contributions that help them meet their financial goals.
What are the benefits of Group Life and Health Insurance?
Both you and your employees benefit from Group Life and Health Insurance. Your employees receive coverage either in full or at a reduced cost allowing them to access the health and dental care they need for themselves and their families. It also provides them savings as they don’t have to use as much of their income for health care. As an employer, you see even more benefits, including:
- Improved morale and increased employee retention
- Increased productivity with a healthier workforce
- Less expensive than salary increases
- Benefits are not subject to CPP, EI or Workers’ Compensation rates
- Premiums are a business expense you can write off
- Attract top talent with a comprehensive benefits package
You really can’t afford not to consider a benefits plan for your team.
Why Choose P.D. Foster Insurance
At P.D. Foster Insurance we have been offering specialized insurance services to our customers since 1949. We understand the challenges of running a business as well as the need for additional medical insurance to supplement provincial coverage.
We provide comprehensive Group Life and Health insurance to help your business remain competitive when hiring new staff, while also improving retention and workforce morale. For a very small investment, we can help you offer an attractive benefits package with very little impact on your bottom line.
For more information about Group Life and Health Insurance, speak to our team today.