Group Insurance in Canada: Top 6 Carriers

nurses
Canada's top group insurance providers
can help your employees.

Statistics Canada says that almost three-quarters of all Canadian workers (74 per cent) have access to at least one non-wage benefit. Health benefits plans are the most common type of non-wage benefit in Canada. Fifty-nine percent of workers have life and disability insurance, 56 per cent have dental plans, and 51 per cent have supplemental medical insurance.

The following are the group plans available from the top six group insurance providers in Canada.

Great-West Life

  • Available with groups of three employees or more
  • Fifteen-month rate guarantee, meaning the insurance company can't raise the employers premium for the first 15 months
  • No termination age on Health and Dental benefits for employees (Many companies cut off at age 70 or 75. This is a great feature for older employees, who may have a difficult time getting out-of-country medical coverage. Note that out-of-country medical coverage is generally limited to 60 days on most plans.

Manulife Financial

  • Available for groups of two employees or more (This is a terrific plan for small business owners and even U.S.-based and spouse-based companies. There are no medical exams or pre-existing exclusions found in individual health and dental plans.)
  • Sixteen-month rate guarantee that's higher than most other carriers
  • Health and dental benefits to employees 75 and under (this age limit recently lowered)

Sun Life

  • Available to groups of three employees or more
  • Fifteen-month rate guarantee
  • Health and dental benefits to employees 75 and under

Desjardins Insurance

  • Available with groups of three employees or more
  • Fifteen-month rate guarantee
  • Health and dental benefits to employees 55 and under

Empire Life

  • Available for groups of two employees or more, but plans for up to five employees have medical underwriting
  • Fifteen-month rate guarantee
  • Health and dental benefits available to employees 70 and under

Encom

  • Available with groups of one employee unique to the industry, but the plan is medically underwritten
  • Green Shield underwrites its health and dental Insurance and SSQ underwrites its life and disability insurance
  • Fifteen-month rate guarantee
  • Very strong in the not-for-profit sector, which is traditionally a weak area for most group insurance providers

For more details on group insurance in Canada, please contact us at 1.866.899.4849 or visit our Group Insurance Quote Page. 

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4 Comments

  1. Jason 09/19/2013 at 2:08 am

    Do you have discounts for a group of 11 who want disability insurance only

  2. LSM Insurance 09/19/2013 at 8:23 am

    Yes certain carriers including RBC offer group based Disability Insurance plans. We are happy to assist with a quote.

  3. George 09/24/2013 at 1:29 am

    How does Standard Life Stack up for small businesses

  4. LSM Insurance 09/24/2013 at 8:45 am

    George, it really depends on the companies claim experience, how long they have been in business, how many employees and ages and the features you want with in the plan. Standard Life is good company but it’s hard to say if they are a good fit without more details.

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