Types of insurance

​ Here is an overview of the types of insurance available to protect your employees and their dependents from the financial consequences of an illness, accident, inability to work or death.

You can also add value to your group insurance plan by offering a health spending account (HSA).

Supplementary healthcare

Covers some expenses that aren’t reimbursed under public healthcare plans, such as1:

  • Hospitalization expenses
  • Medical expenses
  • Fees for healthcare professionals

Vision care

Covers the most common vision care expenses, such as1:

  • Eye exams
  • Glasses and contact lenses
  • Eye surgery

Convalescent care

Covers expenses incurred to help plan members recover at home (e.g., after an operation)1.

Prescription drug

Normally included in supplementary healthcare insurance and covers drug costs1.

Dental care

Covers expenses for common dental treatments and procedures, such as:

  • Preventive care (checkups, cleaning)
  • Restorative care (fillings, crowns, dentures, etc.)

Disability

Replaces the salaries of employees who become disabled for a short or long period of time.

Critical illness

Pays a benefit if an insured is diagnosed with a covered critical illness or has to undergo an eligible surgical procedure.

  • Pays a lump sum on diagnosis
  • Offers a personalized solution to support the employee’s recovery strategy

Life

Pays a benefit in the event of an employee’s natural or accidental death.

  • A tax-free lump sum is paid to beneficiaries
  • The benefit amount can be increased with optional insurance
  • Employees can maintain coverage when they retire or leave their job

Accidental death and dismemberment

Pays a benefit in the event of accidental death, dismemberment or loss of sight.

  • In the case of a death, this amount is paid on top of the life insurance lump sum

Optional

Lets plan members increase the amount of their insurance coverage or purchase coverage that isn’t included in their basic plan.

Three types of optional insurance are available:

  • Life
  • Critical illness
  • Accidental death and dismemberment

Travel and trip cancellation

Cover emergency medical expenses incurred when plan members are travelling out of their province of residence1.

  • Emergency healthcare
  • Repatriation
  • Trip cancellation or interruption

Plan members also have 24/7 access to medical, personal and financial assistance wherever they are, thanks to our Travel Assistance service.

For expatriate employees

For temporary residents

Cover Canadians who are working outside of the country or who return after an extended absence, as well as foreign workers coming to Canada.

  • Insurance solution for expatriate groups
  • Temporary health insurance to replace provincial plan coverage

Health spending account

An HSA is a great way to enhance your group insurance plan. It also gets plan members more involved in planning and managing their expenses, so they’re more aware of how much healthcare actually costs.

Benefits for your organization

  • More predictable plan costs
  • Simplified plan management

Benefits for your employees

  • Personalized coverage based on their needs
  • Ability to cover a wider range of healthcare expenses
  • Access to credits that can be used to cover deductibles and coinsurance amounts

1. Part of our extended healthcare benefit, which includes supplementary healthcare, vision care, home care, and prescription drug insurance, as well as travel and trip cancellation insurance.