05 Organizing payroll, group insurance and pension plans
Group insurance
Group insurance plans are designed to offer health and other benefits that supplement provincial health plans. They are intended to make life easier for employees, help them take care of their health and the health of their loved ones, and protect them in unforeseen circumstances.
Group insurance plans are designed to offer health and other benefits that supplement provincial health plans. They are intended to make life easier for employees, help them take care of their health and the health of their loved ones, and protect them in unforeseen circumstances.
Having a good group insurance plan is a major plus when recruiting. It is also a significant driver of employee loyalty.
Average cost of a group plan for employers:
2% to 4% of payroll
Main types of group insurance coverage
- Life insurance
- Income insurance (also known as disability insurance, which provides coverage for lost wages in the event of illness)
- Complementary health insurance, including drug insurance and paramedical care
- Critical illness insurance
High-value-added options
- Travel insurance
- Dental insurance
- Telemedicine: virtual medical and psychological consultations
- Health and well-being program
A group insurance broker will help you create, implement and administer a plan tailored to your needs and objectives.