A group benefits package not only helps to attract the right talent for your company, it also helps to retain employees and protect your investment in case an employee or one of their family members becomes sick, injured, or even passes away unexpectedly.
Lewer Canada’s benefit programs are designed to allow small and medium sized businesses and franchisees to offer their employees the same range of benefit programs that larger employers provide. We offer a variety of coverage and programs, making it easy to give your employees and their families the protection and support they deserve. Our focus is to bring to you the right solutions for your employee benefit needs, including fully insured, administration services only, and hybrid plan designs. We operate both as a third party administrator, offering our proprietary employee benefits insurance programs, as well as a broker, representing all of Canada’s major insurers.
Life Insurance (Group and Individual)
Short and Long Term Disability
Critical Illness
Extended Health Benefits
Dental Care
Employee Assistance Programs / Business Assistance Programs
Individual Health, Dental, Vision and Travel Insurance
Health and Wellness Programs
Cost Plus
Health Care Spending Accounts
What really are group benefits?
As an employer, you know well that in a successful business, employees make the difference. Therefore, in order to obtain a skilled workforce, it is important to provide the right environment that benefits them.
In response to this need, group insurance plans were created, which, as their name suggests, cover a group of people with a single policy. At Lewer Canada, we know that the better the benefits, the greater the loyalty of the beneficiaries to their employer.
Types of group benefits
There are 2 types of groups:
- Formal groups: an employer purchases the group policy for its business members.
- Informal groups: a group administrator, who is not the employer, purchases the insurance policy for the members of the company or association.
In a fast-paced business world, benefits for the company's employees are very important, as they determine the quality of the workforce. In addition, it should be noted that group insurance is often one of the fringe benefits: these are offered by companies, franchises, professional associations or unions.
What are the advantages of a group benefit plan?
There are 5 main advantages:
- You will get the tax benefits that this type of contract offers for a better cost/benefit ratio. Also, thanks to the premiums paid for the group insurance plan, the contract will be much more economical.
- In a group insurance, there is the possibility of insuring all the members of the company. Also, in connection with the type of contract, it may admit dependents, who will benefit on equal terms.
- The better the plan, the greater the motivation of your employees to work. Therefore, these group plans are ideal as incentives.
- It is very important to comply with the legal obligations that group insurance demands. This brings an excellent performance on the part of the employees or partners, while generates an excellent reputation for the company.
Group benefits in Canada
A group benefit plan never hurts in this unpredictable life. For this reason, many Canadians choose to contract these services, as they become a complement to provincial insurance.
That is to say, although the coverage they offer is one of the most complete in the world, they have many limitations (in the health field, mostly). For example, special dental procedures are not covered in their entirety. Therefore, it becomes indispensable to contract a policy that does meet all health demands.
Regarding benefits for employers and employees
There are many scenarios that induce the search for group benefits in private companies. Consequently, insurance brokers are the main destination for Canadians, since they are responsible for seeking prices and privileges in line with the needs of the beneficiaries.
In view of this, it is important for companies to take out policies that cover all possibilities. Benefit packages for employers are becoming more and more complete and it is no wonder, since an attractive insurance policy guarantees the employee's loyalty to the company.
Employee benefit plans, then, become a pillar of a great company. If you want a qualified, quality workforce, you should ideally invest in a convenient insurance policy, so that you will see excellent results in the future.