A group benefits plan provides coverage to employees in the following areas: Life Insurance, Accidental Death and Dismemberment, Dependent Life Insurance, Critical Illness, Short Term Disability, Long Term Disability, Extended Health Care and Dental.
According to Stats Canada, almost half of us have no savings! An RBC RRSP survey found that 79% of us that have not yet retired do not have a retirement plan. For those of us who do have a retirement plan, 59% are behind in saving for retirement and 33% are just trying to keep their heads above water – never mind putting anything away for retirement!
Most group benefit plans work well at providing adequate coverage for the average employee. However, they can fall short of providing the type of coverage deserved by higher paid “executives”, often leaving them underinsured. In these situ