Group Benefits

Our primary focus is strategic advising, consulting and servicing group insurance programs, which represents one of the core pillars of any employee remuneration package. Any benefit package has to be designed to meet employee needs around life insurance, disability protection, health and dental benefits as well as supporting overall wellness. An extremely robust program would include coverage for all of the following benefits:

• Employee Basic Life

• Accidental Death & Dismemberment

• Dependent Life

• Critical Illness

• Long Term Disability

• Short Term Disability

• Extended Health Care

• Dental Care

• Employee Family Assistance Program

Whether your program includes some, all or none of the benefits above, we offer strategies and advice as they relate to the funding, operation and sponsorship of these lines of insurance. This being said, the market is constantly evolving – with a huge number of specialty vendors many of our clients are integrating their benefit plan to support general wellness, with a greater focus on:

• Telemedicine

• Health Care Spending Accounts

• Wellness Spending Accounts

• Lifestyle Support Apps

Bigger isn’t always better – a huge suite of benefit offerings that isn’t understood or is hard to access can end up costing your organization significant premium costs with a close to zero return on investment for many lines. Understanding your employee needs and supporting all elements of a benefit program including communication campaigns, employee benefit sessions/webinars, surveys of staff, leaders and other program stakeholders are all key elements of our mandate to become an extension of your team. 

Group Retirement Services

Group Retirement programs provide employers with the opportunity to support employee’s long term retirement saving goals, which can be accomplished through a number of different avenues:

• Registered Retirement Savings Plan/Tax Free Saving Accounts

• Registered Education Savings Plans

• Employee Profit Saving Plan/Deferred Profit Sharing Plan

• Defined Benefit Retirement Plans

• Hybrid Defined Contribution and Defined Benefit Retirement Offerings

The retirement benefit offering has a large number of different avenues, but all are effectively based around the same concept of fund accretion during the working years, followed by deaccumulation vehicles at the time of retirement.

At Care, we believe that a healthy retirement plan must first and foremost be rooted in good governance principles, which would include our support around the following:

• Contribution reviews and administrative support

• CAP compliance

• Annual policy review and discussion of stewardship reports

• Fund reviews

• Employee Q&A (either in scope of a benefits program education session or standalone webinar)

While the majority of Canadian employers have stepped away from their typical defined benefits contribution offering, new hybrid offerings that provide similar accumulation and decumulation offerings are seeing significant uptake in the market. Whatever your organizational goals are around retirement savings, whether it’s a detailed review of the program in place today, setting up a new policy or any other major undertaking, we would love to talk strategy about your go forward offering.

Personal Insurance Services

In addition to group benefits and retirement services, we are happy to support the creation and maintenance of individual insurance policies to support any number of individual needs:

• Individual life and disability policies independent of any group offering

• Business owner/key person insurance

• Buy/sell mutual life policy setups

• Top up plans for non-evidence gaps in group insurance policies

• Travel insurance

• Cost plus and spending accounts

Unlike group insurance, individual policies require proof of good health and typically require a medical examination. We are happy to discuss any of your individual insurance needs, whether it’s a simple term life policy to bridge a gap until retirement or a robust universal life program that will be a key component of your retirement savings plan.