Contract for Service

1.  Are contract workers covered by employers’ benefits?

• • No, contract workers are not employees, no employee benefits!
  • You will need to obtain your own benefits plan
  • Maximize personal contributions to an RSP and TFSA for retirement savings and future investments

2. Do I need Business Insurance?

• 24/7 Income Replacement insurance will guarantee a paycheque, tax free for as long as needed in the event of untimely injury or illness that stops you from working
• Income Replacement plans that recognize total earned income from all sources are best suited to a professional working by contract

3. Can a contract worker get a health and dental plan?

• Yes, Individual health and dental plans can provide cash for services not covered by your provincial health insurance plan.

Self Employed

1.  How to cover your personal expenses if illness or injury prevents you from working:

• 24/7 Income Replacement insurance will guarantee continued income, Tax Free for as long as needed

2. How to cover Business expenses if illness or injury prevents you from working:

• Car loans, leases, administrative staff, accounting & legal costs covered by business overhead insurance guarantees business continuation

3. How to use corporate funds for personal and family health care:

• You can expense medical & dental costs through an individual benefits program, include travel too.

Small Business

1. How to hire and retain good employees:

• Offer a comprehensive employee benefits plan that will entice the best employees to help grow the business
• Choose a plan that allows the owner to control costs

2. How to use corporate funds for personal and family health care:

• Legitimately make corporate dollars work for you by eliminating 100% out of pocket medical and dental expenses for owner’s personal and family care with a Health Care Spending Account

3. How to guarantee business continuation if illness or injury prevents the owner from working:

• Personal Income Replacement insurance combined with Overhead Expense insurance will secure business continuation while the owner recovers from unexpected injury or illness

Insurance Solutions without Medicals

Income Replacement Insurance for Injury

• If you have a pre-existing medical condition, you are still eligible for injury/accident benefits
• Injury includes “wear and tear”; tendonitis, carpal tunnel syndrome and more conditions not caused by an accident.
• Accidental injuries included

Business Overhead Insurance for Injury

• Based on fixed expenses of business; can include administration staff

Accidental Death and Dismemberment Insurance

• No questions.
• Issue ages 18 – 64
• $50,000 - $300,000; includes paralysis benefit when added to Income Replacement policy

Critical Illness Insurance

• Up to $25,000; regardless of pre-existing medical conditions.
• Issue ages 18 – 64
• Add up to $100,000 in $25K increments with health questions

Final Expense

• Up to $25,000 Life Insurance regardless of current medical conditions
• Issue ages 18 – 85
• 2 year waiting for natural causes
• 4 times face amount for accidental death

Fracture Accident Benefit

• Lump sum payment for scheduled fractures
• Issue ages 18 – 64
• No income/job requirements
• Pays in addition to any other benefit

Employee Group Health and Dental Insurance

• Guaranteed issue for companies with 3+ employees
• If one employee doesn’t qualify, the group is still eligible
• All employees can be family members

Emergency Travel Medical Insurance

• Annual policy for travel outside applicant’s province of residence
• No pre-exiting clause if added to income replacement
• Special coverage for the trucking industry