Group Insurance is an insurance plan that protects a group of people's financial security in one or more ways, such as offering low-cost life insurance or a dental plan for the self-employed. A group can comprise (or “be composed of”) members of an association, a company's employees, or professionals in a group such as lawyers or doctors.
Insurers realize that people belong to the group because of their field of work, occupation or an association. Thus the group is removed from the acquisition of insurance due to a higher than normal health, work, or environmental risk.
Putting our clients first, we seek to get the best plan for each sponsoring group while meeting their unique objectives. As brokers, we represent a wide selection of the top insurers. Group benefit plans are designed with the membership of the group in mind. We assess the needs closely to unify with an insurer with the most suitable coverage and price.
Group insurance plans can include a combination of coverages, including:
Other Advanced Plans include:
This information is intended to general educative reference only. This group material is not a specific piece of advice for any one situation as every solution is different.
We can design your employee retirement plan to incorporate the following:
When your employees retire or are approaching retirement, they will need help through this period of change. Professionals are available to educate your employees about all available retirement income vehicles. We offer the expertise and services to ease the transition to retirement for your retirees:
Whether you are making investment contributions to save for future expenses or retirement, the Group Investment Program allows you to take control of your personal portfolio and achieve your financial goals with peace of mind.
This information is intended to general educative reference only. This group material is not a specific piece of advice for any one situation as every solution is different.
An employer arranges for the company's employees to make contributions in a group RRSP via payroll deductions. The level of contribution per year is decided by the employee, to be invested as specified by the administrator of the group RRSP account. The Group RRSP is managed according to investment selections, in individual employee accounts.
With a group plan the contributing employee gains similar benefits to a regular RRSP as contributions can be deducted from the employee's income, thus lowering his or her taxable income. A Group RRSP reduces taxes at source, allowing the employee to have a higher income issued by payroll.
Part of implementing an excellent Group RRSP plan is to have a wide selection of investments available for employees.
Group RRSP fees can be lessened because of the buying power of a group of investors, translating to better returns for the employee over time.
It is easy to add employees to a Group RRSP. If the company winds down the plan in the future, or if employees are terminated, they can move their money to their own individual RRSP plans. Conversely, pension rules are more strictly regulated.
Once the employee and/or additionally the employer makes contributions to an employee's plan, the ownership then is attributed to the employee.
This information is intended to general educative reference only. This group material is not a specific piece of advice for any one situation as every solution is different.
A Group Benefits program should be as unique as your business. The program should work effectively as an extension of your human resources department, designed with your objectives in mind.
We will discuss and analyze key factors that may affect your benefit planning.
This information is intended to general educative reference only. This group material is not a specific piece of advice for any one situation as every solution is different.
We offer careful analysis of pension and retirement vehicles as our Group Retirement consulting team applies their knowledgeable experience of the financial services industry, including the following areas:
We discuss and analyze key factors that may affect your corporate retirement program.
At least once each year, we coordinate, develop, and deliver seminars for your employees.
We monitor your program so it continues to work optimally for you with respect to:
Reviewing Your Program We will tender your Group Retirement program to several providers to ensure that your arrangement is the best in the industry. A complete analysis of competitive quotes will be presented by potential providers.
This information is intended to general educative reference only. This group material is not a specific piece of advice for any one situation as every solution is different.
Utley Financial Group is a proud member of:
Representing Freedom 55 Financial, a division of London Life Insurance Company