|
|
|
|
|
|
by inafield
4742 days ago
|
|
|
1.) Insurance providers are, unfortunately, set up that way in Canada. Bulk processing of applicants is cheaper administratively than lots of individual applicants. I think any insurance company that wants to rock the boat will take a long hard look at this group vs. individual practice. 2.) GWL's 50-75% coverage vs. Blue Cross' top-tier 90-100% coverage is a no-brainer if you want to spend the extra (a lot) of money. 3.) They are, which is why I haven't switched. I get minimal life, dependent, ADD, and LTD. In fact, it is so minimal that I went and got extra that isn't tied to my employment. The company won't stop paying for it though, because they want the $60k they'll get if I die or am permanently disabled. 4.) Fully passed. 5.) I've heard this before. I'll have to look into it. Despite being more fiscally conservative than most other Canadians, budget is still tight. |
|
|
2. That's your plan, not the carriers themselves. Both offer everything from nothing to 100% coverage. Sounds like you have a pretty low end plan. Seriously, talk to your employer about an HCSA... you can use it to pay deductibles and it is designed exactly for plans like yours.
3. The company won't stop paying for it though, because they want the $60k they'll get if I die or am permanently disabled.
Pretty sure this isn't happening. In fact, I'm pretty sure that's not even legal. They may have an additional benefit as part of their general insurance policies (key man, etc.) but all the payout for a life/add claim goes 100% to the people you've designated as a beneficiary.
5. Getting 15k-20k of CI for under $10 a month is the average rate. That's probably less than you spend on coffee. Given your LTD is probably about as good as the 75% EHC you have, I'd look into it. Nothing like not having to worry about expenses when(if) you get sick. Covers everything from heart attacks to cancer. You can usually insure your spouse too.