Plan Design

Life Insurance
Accidental Death and Dismemberment
Extended Health and Drugs
Dental
Short Term Disability
Long Term Disability
Critical Illness Insurance
Group RRSP

Life Insurance

Amounts available from: $10,000 -$250,000
Guaranteed Issue: With 2 or more employees.

Life insurance can help create financial security for your employees and their families by protecting them from a premature death. The benefit is usually paid as a tax free lump sum to the covered member.

Life Insurance Benefit Amounts:

1-3 Employees: $10,000 to $100,000
4-9 Empoyees: $10,000 to $200,000
10+ Employees: $10,000 to $250,000

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Accidental Death and Dismemberment

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Amounts available from: $10,000 -$250,000
Guaranteed Issue: With 2 or more employees.

In the event of an accidental death, this coverage will pay benefits in addition to any life insurance held by the employee. This sometimes is also referred to as double indemnity.

Dismemberment occurs when the covered employee loses a bodily appendage or sight because of an accident. A portion of the life Insurance base is paid in this event ranging from 10% – 100%.

Additionally, AD&D generally pays benefits for the loss of limbs, fingers, sight and permanent paralysis.

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Extended Health and Drugs

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  • Semi-Private Hospital
  • Eye Exams and Eye Wear
  • Travel Insurance and Trip Cancellation
  • Medical Equipment
  • Private Nursing
  • Ambulance
  • Prescription Drugs
  • Paramedical Services
  • Physiotherapist
  • Chiropractor
  • Massage Therapy
  • Naturopath
  • Psychologist
  • Osteopath
  • Podiatrist
  • Chiropodist
  • Speech therapist

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Dental

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Basic Dental Coverage

  • Root planing
  • Examinations
  • Periodontal scaling
  • Recall Procedures
  • Routine Extractions
  • Floride Treatments
  • Cleaning

Major Dental Coverage

  • Periodontics
  • Crowns
  • Onlays
  • Dentures

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Short Term Disability

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Weekly Benefit Amounts: $100 -$1,500
Guaranteed Issue: With 3 or more employees.

Short Term Disability pays a weekly (typically tax-free) benefit for a disability caused by either illness or Injury. The benefit is paid from
either the 1st day of an accident or the 7th day of an injury.

Length of benefit can range from 90 days to 12 months.

Benefit amount is usually about 66 2/3% of gross earnings. The injury or illness need to be work related.

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Long Term Disability

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Monthly Benefit Amounts: $500 -$5,000
Guaranteed Issue: With 3 or more employees.

Long Term Disability pays a monthly (typically tax-free) benefit for a disability caused by either illness or Injury. The benefit is paid from either the 90th or 120th day of a disability.

Length of benefit may be either 2 or 5 years or to age 65.

Benefit amount is usually about 66 2/3% of gross earnings. The injury or illness need not to be work related.

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Critical Illness Insurance

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Benefit Amounts: $10,000-$50,000
Guaranteed Issue: With 3 or more employees.

Critical illness insurance pays a lump sum benefit on the diagnosis of a named illness. Illnesses covered vary from plan to plan but most will include some form of the following: Heart Attach, Cancer, Multiple Sclorosis, Alzheimers, Parkinson’s, Blindness, Deafness, etc.

Payment is made to the survivor of a critical illness and the recipient

Critical illness insurance from RBC Insurance provides a lump-sum benefit to help support you financially, if you are diagnosed with and survive a covered critical illness. You can use this benefit payment to supplement your health insurance plan and any group disability coverage you may have:

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Group RRSP

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Group RRSPs are an attractive and easy way to help your employees save for their retirment. These plans can be offered to your employees with very little adminstration from you and/or your staff. RRSPs are collected electronically by payroll deductions and are done so in a systematic and on a pre-tax basis. Employees elect investment choice ranging from Mutual Funds to GICs.

There is no obligation for the owner to contribute into their employee’s plans which make this option attractive for smaller business that do not have the cash flow to support a regular pension plan.

Investment decisions are made by the employee and the options are similar to those available for an individual RRSP and can include Mutual Funds or GICs. Management fees related to Mutual Funds are typically lower in such a program compared to individual accounts. This allows for greater investment growth over the long run.

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