Insurance Archives - 3i Financial

Group Benefits

3iwebdev — Wed, 15 Sep 2021 16:21:45 +0000

What is Group Benefits?

Group Benefits plans provide coverage to a group of members that are part of an organization such as company employees. Group Benefits health plans are policy insurance that are offered at a low cost due do the spread across members of policyholders.

Why is Group Benefits important?

Thank your employees

Your employees and their health are your most important asset. Happy, focused, stress-free employees are productive employees.

Attract & Retain Key Talent

Get help attracting talent and compensating your plan members with an affordable, comprehensive and easy-to-use group benefits plan.

Group Benefits Products

Life Insurance: Provides basic financial protection to an employee’s beneficiary if they die. Available as a flat amount or a multiple of an employee’s salary.

Critical Illness: Helps protect employees and their families financially should they face a serious illness.

Long Term Disability: Provides monthly benefit if an employee cannot work for an extended period of time because of total disability.

Short Term Disability: Replaces a portion of lost income while an employee is temporarily unable to work because of total disability.

Dental Care: Covers preventative and diagnostic dental treatment as well as coverage for fillings, root canals, extractions and oral surgery. Options for major dental including orthodontic treatments are also available.

Dependent Life Insurance: Helps provide financial protection for an employee in the event a spouse or child’s death.

Accidental Death and Dismemberment Insurance: Provides for an additional benefit if an employee dies, loses a limb, is paralyzed or loses hearing, speech, or sight as a result of an accident.

Extended Health Care: Covers necessary medical expenses that are not covered by provincial plans. Includes coverage for:

Prescription Drugs
Paramedical Devices (Massage. Chiropractic, Acupuncture, Physiotherapy, etc.)
Vision Care
Hospital Care
Medical Equipment
Emergency Travel Medical

Source: Canada Life, Investopedia, Manulife

Contact a 3i Financial Group Advisor today to learn more.

Important disclosures:

The articles posted on 3i Financial are not intended to provide specific advice or recommendations for any individual and for general information only. All contents and information are believed to be from verified sources; 3i Financial makes no representation as to its completeness or accuracy.

Tags: Dental, Group Benefits, Health, Health & Dental, Insurance, Prescription Drugs, Vision Care

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Universal Life Insurance

3iwebdev — Mon, 13 Sep 2021 15:29:40 +0000

What is Universal Life Insurance?

Universal Life Insurance is a type of Permanent Life Insurance that includes investments that can grow over time and can be used to fund your policy.

How does it Work?

Universal life insurance is a great option for those who need life insurance and want to invest. Depending on how well these investments perform, you can use the policy fund to your advantage!

It can also build cash value, with gains/loss which depends on the market fluctuation and your policy type. The growing are tax-free and you can redeem the cash value; however, be aware that depending on the outstanding amount, the insurance company may reduce the payout to your beneficiary.

Benefits of Universal Life Insurance

Lifetime Coverage

Tax-advantaged investing

Access to funds

flexibility

Cash Value

If you’d like a life insurance coverage with a lifetime coverage with a long-term savings goals and need both investment and life insurance vehicles, you may consider an Universal Life Insurance Policy.

There are wide range of options out in the market, but be sure to choose the one that fits YOUR needs.

Source: RBC Insurance, Forbes Advisor

Important disclosures:

Get a peace of mind! Contact a 3i Financial Group Advisor today and start to invest for your future!

Tags: Financial, Insurance, Universal Life

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Segregated Funds

3iwebdev — Thu, 05 Aug 2021 15:00:00 +0000

What is Segregated Fund?

A Segregated funds is an insurance investment product that functions similar to a mutual fund. The difference between mutual funds and segregated funds is they offer guarantees such as maturity and death benefits. The management expense ratio is usually higher than that of a mutual fund because of these guarantees. Segregated funds investor may qualify for RESP, TFSA, RDSP and RRSP.

Benefits

Potential Creditor Protections

Diversity in Portfolio

Privacy

Guaranteed Savings Protection

Pros

The principal investment is guaranteed after maturity
Death Benefit is Guaranteed
Creditor Protection for self-employed business owners

Cons

Higher Fees
Money is Locked-in
Early Withdrawal Penalties

Segregated funds are market-based investments similarly like mutual funds, where large sums of money from various investors are invested in securities with financial goals. Segregated funds gives you control on how you want benefits to be paid out such as an annuity payout or lump sum.

Source: Canadalife, Investopedia, RBC Insurance

Important disclosures:

Contact a 3i Financial Group Advisor today to learn more.

Tags: Financial, Insurance, Investments

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Travel Insurance

3iwebdev — Tue, 20 Jul 2021 15:00:00 +0000

What is Travel Insurance?

Travel insurance helps you and your family travel in peace. A small accident can become a major expenditure. At 3i Financial, we pride ourselves on providing our clients with the best and most innovative travel insurance products in the marketplace. Products are chosen for their features, choices, affordability and ease of access.

Who Needs Travel Insurance?

Travelling Canadians

Travel Insurance provides protection for Canadian Residents that are travelling out-of-province or outside Canada against unexpected emergencies that may occur before or during the trip.

Your government health insurance plan may only cover a fraction of healthcare expenses incurred outside Canada, and may only provide limited coverage. Without travel insurance, a medical emergency or trip interruption due to an emergency could be disruptive and leave you facing large unexpected expenses.

Visitors to Canada

Do you have family or friends coming to stay? Do they have health insurance to help protect them while they’re here? Are you visiting Canada and need health insurance while you are away from home?

When Visitors to Canada purchase Travel Insurance before leaving home they will have coverage during their uninterrupted flight to Canada.

Students

The Student plan offers those who are studying away from home a smart and economical way to help protect themselves against the cost of emergency medical and basic healthcare expenses and more.

GET YOUR FREE QUOTE

Do you have any questions? Contact us to find out more!

Important disclosures:

Tags: Insurance

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Health & Dental Insurance

3iwebdev — Thu, 15 Jul 2021 15:00:00 +0000

What Is Health & Dental Insurance?

An insurance that helps to cover the cost of out of pocket expenses that is not cover under provincial health care plans.

Prescription Drugs
Dental
Hospital
Vision
Paramedical
Ambulance Services

Good for people who are losing coverage, self employed and does not have group benefits.

Plans can be customized to meet your individual needs.

Protect Your Health
You wouldn’t hesitate to insure your car and home.
Why be on the sidelines when it comes to your health?

Contact a 3i Financial Group Advisor today.

Important disclosures:

Tags: Health & Dental, Insurance

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