Corporate Benefits
At Milestone Insurance, our brokers will take the time to fully explain the numerous insurance options you are faced with.
Insurance can be a confusing topic and it helps to have someone in your corner that knows the terrain.
We offer a broad range of employee benefits designed for small and large groups.
Working together with our clients and the insurance carriers, we strive to provide the best benefits package to suit our client’s needs.
In addition, we keep our clients updated with respect to changing trends in the market place, as well as changes in legislation, or any information that will be of interest or will benefit our clients.
By investing in an Corporate Benefits insurance plan for your employees:
- You attract and retain employees, which helps minimize costs associated with high turnover.
- You and your employees have access to insurance at a reduced cost, compared to most individual insurance plans.
- The premium you pay is tax deductible as a business expense.
- You help improve morale and increase productivity by providing financial security and support when your employees need it most.
Executive Compensation
This plan helps business owners attract and retain key employees by providing tax-effective financial compensation that goes beyond typical salary payments, including long-term incentives.Keyperson Coverage
If an essential employee who helps you run your business were to pass away or become disabled, your business would be greatly impacted. This coverage provides you with a tax-free lump-sum payment that you can use towards recruiting and training a new employee, in addition to repaying debt. This coverage can also be used to replace lost profits while your new employee is learning the ropes. Keyperson coverage can also apply to you as the owner.Income Replacement Benefits
If you or one of your employees suffers an accident or illness, either on or off the job, income replacement benefits can act as a safety valve to help replace lost income.Employee Group Benefit Plans
Employee Benefits can be customized to suit the needs of the employer and employees.
The following is an overview of some of the options that can be offered:
Life Insurance
This is a mandatory benefit with most carriers. Coverage can be a choice of either a flat amount or a percentage of annual salary. Depending on the size of the group and the plan design, evidence of insurability may be required.
Accidental Death and Dismemberment
Usually mirrors the life insurance. Accidental Death & Dismemberment coverage provides employees or their beneficiaries with financial assistance in the event the plan member dies or incurs a loss of use of limbs, sight etc. as the result of an accident.
Dependent Life Coverage
Minimum life coverage on the plan member’s spouse and each dependent child.
Disability Insurance
Disability coverage provides pay cheque insurance for individuals who are unable to work due to illness or accident whether temporary or permanent until the individual is able to return to work.
Critical Illness Insurance
Critical-illness insurance provides financial assistance in the form of a lump sum payment when one is diagnosed with a named critical illness such as heart attack, cancer, or stroke. Depending on the policy selected, one can choose a plan that will cover over 30 debilitating conditions. Simply, it allows the individual to concentrate on recovery without having to suffer the emotional stress and financial hardships that accompany these illnesses. Any payment can be used at the persons’ discretion.
Integrated Benefit Solutions
An Integrated Benefit Solution offers a combination of traditional group benefits and individual income protection products. Some of the key advantages related to the individual products include portability and the issue of the individual contract without evidence of insurability. This combination is only available to groups and is only available for disability and critical illness products.
Voluntary Benefits
We can offer employees a range of insurance and other offerings to enhance their overall concerns along with enhancing more employer commitment and support to the work force.
Flexible / Spending Accounts
Lets your staff choose their benefit program cateringto their differing demands. We will help create a tailored program to meet the needs and wants of your workforce.
Wellness
Mental and Physical wellness are key influencers in employee engagement. A welldesigned program impacts absenteeism, disability costs which are directly related to the bottom line.
Retirement
Saving for retirement is critical since any government program is limited at best. Tailored saving plans with or without employer contributions will help your staff save for the future. with programs offering reasonable management fees or matching contributions. We offer employee education, and program oversight. Our services include assessment of plan objectives including CAP guidelines.