Group disability insurance replaces part of an employee’s income if illness or injury keeps them off work for an extended time. As a result, your employee can keep paying their bills while they recover. Nova Star Insurance Consultant Inc. offers flexible, affordable short-term and long-term disability plans for employers in Ontario, Quebec, Nova Scotia, New Brunswick, and Alberta, often as part of a broader group benefits package.
Disability is more common than many employers expect. According to the Canadian Life and Health Insurance Association, about one in three Canadians will have a disability lasting 90 days or more during their working life. Moreover, most long absences come from illnesses, such as mental health conditions, cancer, and back problems, rather than workplace accidents. So, even office-based businesses need a plan. For general information, see the Financial Consumer Agency of Canada’s guide to disability insurance.
Employee absences can be costly for any employer. Disability insurance replaces part of lost wages and helps employees return to work. However, choosing between plan designs and premium options can be challenging for a busy employer. That’s why we work closely with you to find the most cost-effective way to protect your team’s income.
Short-term disability usually covers the first weeks or months of an absence. Long-term disability then takes over for longer illnesses, often until age 65. We can customize either plan, or both, for small, medium, and large businesses.
Quite likely. About one in three Canadians will have a disability lasting 90 days or more during their working life, according to the Canadian Life and Health Insurance Association. That’s true for desk jobs as well as physical work.
Long absences are costly. Group disability coverage replaces part of an employee’s wages while they recover, so they can meet their financial obligations. In addition, it supports a faster return to work and shows your team you care.
It depends on who pays. If the employer pays the premiums, they’re generally deductible for the business, but the benefits are taxable to the employee. If employees pay the long-term disability premiums themselves, the benefits are usually tax-free. Many employers choose the second option for that reason. We’ll help you weigh the trade-offs with your accountant.
Disability coverage pays a portion of an employee’s income when they can’t work because of illness or injury. As a result, they can focus on recovery without severe financial stress. This support also improves employee well-being and job satisfaction.
With long-standing access to multiple insurance carriers, Nova Star Insurance Consultant Inc. compares rates for you, whatever the size of your team or the coverage you need. We provide free quotes and consultations, so you can offer valuable benefits at a cost that fits your budget.
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