Dundee Insurance Agency Ltd.
A Dundee Wealth Management Company

 

Dundee Group Benefits

We realize the importance of developing a customized Group Benefit program tailored to satisfy your goals and objectives. Our service goes beyond finding the lowest long term cost for your organization.

It involves, among others:

  • Management solutions to protect against high claims usage and soaring costs
  • Educating employees on claims management
  • Proper and efficient enrollment
  • Recommendation for executives and key employees
  • Plan design and funding alternatives - Flex Benefits, Third Party Administration

The Dundee Process

Client Analysis
Together we will clearly define your organization's goals and objectives.

Market Analysis
Based on these findings, we will conduct an in-depth market review on your behalf.

Recommendations
The results of our market analysis will help determine the plan design and insurance company that satisfy your objectives.

Implementation/Communication
Working on your behalf with the insurer, we will coordinate the implementation process and communicate the plan to the employees.

Service
You will receive a high level of service from Dundee throughout each policy year.

Group Benefits Plan Design

Life Insurance

    Basic Life
    Basic life insurance is mandatory for all benefit plans. It is provided in flat amounts or as multiples of annual earnings (one to five times salary).

    Optional Life
    Employees are able to choose an amount of additional coverage in multiples up to certain maximums. A medical questionnaire may require completion by the employee.

    Dependent Life
    An optional benefit, which offers coverage for costs associated with the loss of employee's spouse and children.

    Accidental Death & Dismemberment
    This benefit provides financial assistance in the event of an accident causing death or dismemberment. It is often equal to the amount of life insurance coverage.

Disability Insurance

    Short Term Disability
    In the event of an accident or sickness, Short Term Disability benefit provides a weekly payment after a certain number of days based on a set percentage of the employee's salary. The benefit period usually ranges from 15 to 26 weeks and should be coordinated with the Long Term Disability benefit.

    Long Term Disability
    In situations when an employee is off work for an extended period of time due to accident or sickness, Long Term Disability provides a monthly payment based on a set percentage of the employee's salary. Coverage begins after the employee satisfies a waiting period, usually four months, and the benefit period ends when the employee turns 65, unless otherwise stated.

    The benefits schedule, waiting period, benefit period, definition of disability and taxation are important aspects of the disability benefit which should be discussed with a consultant.

Extended Health Care

    This is the benefit often most valued and used by employees. Health insurance provides comprehensive coverage to supplement provincial medical plans in the event of accident or sickness to an employee or his / her family. To tailor a plan specific to your client's needs, it is important to understand the benefits and cost-containment features such as coinsurance and maximums.

    Prescription Drugs
    Coverage
    • prescription drugs - covered if prescribed by a doctor or dentist
    • National Formulary (Managed Care) - A list of eligible drugs based upon their medical value and effectiveness.

    Common Exclusions
    • fertility, anti-smoking and anti-obesity drugs

    Paramedical Practitioners
    Coverage includes services rendered by health care professionals and the cost of health care related products, services or devices not covered by the government insurance plan.

    • chiropractor*
    • physiotherapist
    • psychologist
    • naturopath
    • osteopath
    • speech therapist
    • massage therapist
    • acupuncturist
    • podiatrist
    • chiropodist

    *

    Services of a chiropractor may not be covered unless performed after the province's medical plan has been exhausted. 1st day chiropractor option is available.


    Private Duty Nursing
    Coverage up to $5,000 or $10,000 of out-of-hospital services provided by a registered nurse or nursing assistant, when medically necessary.

    Hospital Room
    Options are semi-private and private rooms (ward care may also be quoted for some groups).

    Vision Care
    This provides coverage for the purchase of eyeglasses or contact lenses.

    Other expenses covered:

    • out-of-province and out-of-country coverage (this provides emergency-only coverage while plan members are traveling outside of Canada in excess of what is payable under the provincial health plan)
    • medical supplies
    • medical equipment (i.e. - braces, prosthetics, wheelchair rental)
    • hearing aids
    • ambulance

Dental

    The dental benefit is classified under four levels of service.

    Preventative
    • examinations (recall option 6 or 9 months)
    • x-rays
    • cleaning
    • scaling
    • oral surgery
    • fluoride
    • anesthetics
    • oral hygiene instruction
    • space maintainers

    Maintenance (Minor Restorative)
    • fillings
    • extractions
    • endodontics (root canal)
    • periodontics (gum disease)
    • repairing, relining and rebasing dentures

    Major Restorative
    • crowns
    • dentures
    • inlays
    • onlays
    • bridgework

    Orthodontic
    • orthodontia coverage usually available only for dependant children






www.cipf.ca