Group & Disability Insurance

Employee benefits can be one of the most challenging areas you face in your business. Your Merit Group Benefits Broker will help customize a plan that provides quality benefits, helps attract and keep valuable employees and keeps your business expenses under control.

What is a Group Benefits Plan?
An employer's group benefits plan shares the financial risk of health-related expenses among the group of employees, under one contract, who pay into a pool or fund. When an employee member becomes ill or requires medical services, they are financially compensated by the plan according to the terms described in the contract between employer and insurance company. Family members of employees are also covered under the plan as defined by the contract.

Advantages of Providing an Employee Group Benefits Plan

1. Reduces the costs of high employee turnover: Attract and retain employees, thereby giving you a competitive edge in the job market. 
2. Provides access to appropriate and consistent insurance coverage: Compared to most individual health plans, group plans do not discriminate and are not anti-selective. All participants are offered the same benefit plan.
3. Boosts productivity and employee morale: The sense of financial security and support helps to increase loyalty, productivity and employee satisfaction.
4. Tax benefits to the employer: Most premiums and employer pays are tax deductible as a business expense. 

What is Disability Insurance?
If you become disabled during your working years, disability coverage supplies a portion of your salary. It also helps protect you if you must retire early due to illness. It's especially important if you are self-employed, because a temporary loss of income could put you in a vulnerable financial position. 

Advantages of Disability Insurance:

1. Alleviates financial strain: Disability coverage helps to secure your main source of income if you're self-employed, or supplement coverage from your employer if you work for a company.  
2. Helps keep your long-term financial objectives on track: Avoid tapping into your retirement or children's education savings to pay bills and everyday expenses while disabled.
3. Provides peace of mind: Helps meet your income requirements as you recover from an injury and prepare to return to the workplace.  

Call Merit today and ask to be referred to one of our Group Benefits and Disability Specialists.

Greater Toronto Area: (416) 497-5556
Waterdown: (905) 690-6888

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