BASIC GROUP PRODUCTS
Group Life Insurance
Group life provides financial assistance in the event of the plan member's death. The plan sponsor may choose a flat benefit amount or a percentage of salary.
The rates are revised annually (yearly renewable term) and are based on the demographics of the group.
Group Accidental Death & Dismemberment (AD&D)
The Accidental Death & Dismemberment (AD&D) benefit that can be sold in conjunction with life insurance coverage. AD&D provides protection in the event that a plan member incurs a loss, or loss of use of: life, limb, sight, hearing, and/or speech due to an accidental injury.
The amount of coverage is usually equal to the amount of life insurance selected by the plan member.
Group Dependent Life Insurance
Available only to the spouse and dependent children of an employee. Dependent life insurance provides a benefit in the event of the death of a plan member's spouse or dependent children.
Group Short-Term Disability (STD)
Also referred to as WEEKLY INDEMNITY or WI
The Short-Term Disability or Weekly Indemnity benefit is designed to compensate an employee for income lost as a result of short-term absences from work from an accident or sickness.
Group Long-Term Disability (LTD)
Also referred to as MONTHLY INDEMNITY
Long Term Disability coverage provides income when an employee is disabled and unable to perform the duties of his or her own occupation.
Group Extended Health Care
Extended Health Care Benefits (also referred to as major medical benefits) are designed to supplement existing provincial health care plans by helping plan members and their
dependents pay for medical expenses that are not covered by the provincial plan.
Extended Health Care Benefits can be divided into several categories which include:
- Drug Coverage
- Medical Supplies and Equipment
- Hospital Coverage
- Out of Province/ Country Coverage
- Other Health Care Benefits
Details of exactly what is covered, how much the plan pays, and what the deductible amounts vary among plans.
Group Dental Care
Dental Care Benefits provide comprehensive dental services and supplies for plan members and their eligible dependents. The type and scope of dental services covered under a dental plan varies; dental care services are generally grouped into the following categories:
- Preventive
- Basic
- Endodontics
- Periodontics
- Major Restorative
- Orthodontics