Manulife Group Benefits
Manulife is a leading Canada-based financial services group that is helping people achieve their dreams and aspirations by putting customers’ needs first and providing them with the right advice and solutions.
Group Life Insurance
Group Life Insurance helps provide coverage for plan members and their families against the loss of income in the event of a plan member’s death. It allows plan members to know their loved ones are financially protected. Common types of Group Life Insurance benefits available include: Employee Basic, Employee Optional, Dependent Basic and Dependent Optional. Employee Basic and Optional provide financial assistance to the designated beneficiary, payable upon the plan member’s death.
Group Critical Illness
Most of us know someone who’s been diagnosed with, or suffered from, a critical illness. The effects, as we know, can be far-reaching: worry, treatments, time away from work, and the financial burden of unexpected expenses. When being confronted by a serious illness the last thing plan members want to learn is that there may be costs associated with their illness that do not qualify for coverage under provincial or employer health care plans.Manulife Financial’s Group Critical Illness Insurance supplements the coverage available to plan members through their group health, life, and disability plans. It provides covered individuals with access to premier health information services and a lump-sum benefit if they become critically ill. Plan members can use the benefit for anything they wish, such as: Financial needs – income replacement, paying down debts or to help preserve personal savings, retirement funds or other investments; Health care costs – alternative treatment options, medical equipment or expenses not covered under provincial or group benefits plans; and Lifestyle choices – home repairs or renovations, vehicle upgrades, personal or family pursuits
Group Disability Insurance
As a leader in workplace absence and disability management for businesses of all sizes, Manulife has a complete range of solutions, tools and experts in place to meet all employers’ absence and disability management needs and help their employees bring their best to work each day. Our products and services focus on early intervention as the best means to promote a safe, timely and more effective recovery for employees. Experience shows that assessing abilities and applying targeted interventions in the first weeks of absence helps better address the specific challenges an employee is facing. It can also help reduce the likelihood of long-term disability and support a healthy and earlier return to the workplace.
Emergency Travel Assistance is a program that enhances the out-of-Province/out-of-Canada coverage by providing on-the-spot medical and financial assistance in the event of a medical emergency. ETA provides coverage for a sudden, unexpected injury or an unforeseen illness and the resulting expenses that may occur while temporarily outside the province.
Group RRSP: FutureStep is a Group Registered Retirement Savings Plan (RRSP), a savings vehicle offered by an employer to his/her employees as a way to save for the future. Both employers and employees can contribute to the plan and receive certain tax advantages. The FutureStep Group RRSP features best-in-class investment options, education and online services that are typically only available to larger companies. All of these features are offered within a cost-effective design that is easy to set-up and manage.
DPSP Option: Building on the success of the group RRSP, we have expanded FutureStep to include a Deferred Profit Sharing Plan (DPSP) — an employer-sponsored profit sharing plan that is registered as a trust arrangement with the Canada Revenue Agency (CRA).
Businesses now have the choice of either offering a FutureStep RRSP or a FutureStep RRSP with a DPSP option. The DPSP option is not a stand-alone offering and can only be purchased with the Group RRSP.
Contact BeniPlus for more information.