Term 10 is the most economical method of protecting your family however if you are healthy, a non-smoker and have young children, you may want to consider the longer term benefits of a Term 20 policy.
The risk of a 35 year old experiencing a 3 month disability or longer before the age of 65 is 33% with an average length of 2.9 years. 1 in 8 or people become disabled every year. The potential loss of income for an individual who makes $50,000 age 35 is $1,125,000.
This is a lump sum benefit to help you protect your savings in the case of a life threatening illness. With the current survival rate at 78%, additional expenses and lost income may severely hinder your recovery and alter your retirement/life plans.
Similar to Life Insurance, Term 10 Critical Illness is the most economical especially if you are considered a smoker.For young families, term 10 or 20 is the most economical option. A more permanent option is Term to 75 with Return of premium option.You may want to invest as much premium into surviving as you do in your life insurance policy.
Similar to adult critical illness, this benefit is specifically designed for children’s illnesses and provides a lump sum of money to help overcome an illness and pay for alternative medical treatment, parental time away from work and family vacations.
· Full return of premium (savings component) if policy is surrendered.
Premiums start at $20/month and is fully paid and converted to an adult policy after 20 years. Cash value if surrendered is 100% of all premiums paid into the policy.
Segregated Funds are strategically managed similar to Mutual Funds according to your investment risk profile and have added protection.
As you approach retirement, Segregated Funds can offer minimum annual guarantees (currently at 5% annually) for as many years as you do not make any withdrawals and provide a guaranteed income for life.
You may want to consider a fixed monthly contribution as a good strategy to balance market fluctuations and create a forced savings plan towards retirement.
Segregated funds ensure that your principal is guaranteed. Investment risk is managed to coincide with the age of the child throughout the life of the investment.
Group benefits are designed for companies of all sizes and rates usually favor companies greater than 3 employees. For any companies with less than 10 employees, 100% participation in mandatory and employers sponsor the plan by contributing usually 50% of the premiums or higher. Companies greater than 10 have more leverage but 100% participation is usually suggested to protect your employees.
The most tangible benefits that favor the employee are paramedical services such as Massage, Chiropractic, Physiotherapy and equally Dental coverage. Prescription drug, although mainly unexpected, accounts for about 70% of the cost of a health plan due the surmounting cost of leading edge drugs ranging in the hundreds of thousand dollar per year.
In order to keep your organization competitive, we’ve put together the most comprehensive plans in the marketplace, beating out many of your local providers in both benefits and price. In fact, we have over a 95% retention rate due to our client satisfaction.
Crowns, Bridges, Partial or complete dentures, Inlays and onlays, Bridgework, Tooth implants, Impacted wisdom teeth removal.
24-hour coverage, nontaxable benefit, includes partial disability, 66.67% of monthly earning to a maximum of $10,000. No Evidence Minimum: $1,500 (does not need to medically qualify), 120 day waiting period, benefits to age 65.
$100 Eye Examinations, $10,000 Home nursing care, $300 Orthopedic Shoes, $500/5 years Hearing aids, $5000 Therapeutic Equipment, $500 Lab Expenses, Semi-private hospital, Licensed Ambulance Services, $2000 accidental Dental.
Provides confidential short-term counselling for common struggles such as personal issues, job stress, relationship issues, eldercare, childcare, parenting issues, harassment, substance abuse, separation and loss, balancing work and family, financial or legal, family violence.
We strive to be your least expensive option for the best benefits. We offer consulting services to build the best plans for all levels of employees, from your executive team to your front line. We offer both pooled plans which offer stable rates for companies under 50 employees and custom plans for larger groups including Health Spending Accounts and ASO plans.
Worry Less - Our average pooled renewals ranges between 4%-8% whereas the average is 10% so it’s likely you won’t ever have to shop for a better deal.
Offer the best - Attract, retain and maintain the best workforce by offering your employees more than your competition.
Let us do the work - From plan design, enrollment, changes and claims, we are an extension of your HR team so you can focus on your business!
Size doesn’t matter - Whether you’re a single person or a larger firm, our plans offer more than most providers with less medical questions.
Keep it local - Benefit from a local advisor. Ocean Sun Financial is a Whistler based company proudly serving the community since 2006!
What are you waiting for? Start Saving today!