Working in Fort McMurray? Have enough Group Disability & Life Insurance?
- $2,500/month disability insurance. On-the-job injuries are also covered by WCB but off-the-job injury coverage usually starts after 4 months of disability and is capped at $2,500 monthly benefit. To coordinate and ensure to cover at least $5,000 per month after 30 days may cost as little as $160/month for a 30 year old male, iron worker. This is just an example however and cost depends on health and the additional upgrades to the chosen coverage. It is of course subject to approval by the insurer.
- $75,000-$150,000 Life Insurance. Most life insurance products go up in cost every 10 or 20 years until they become unaffordable. There are other options however, which are tax effective, have a cash component and in the absence of a claim, individuals will have a growing, tax sheltered, investment in addition to a whole life insurance policy.
There are many unknown tax effective insurance options. At our brokerage, we have access to all insurance carriers and help our clients find the best insurance product for their needs. We have worked with individuals who recognize the need for more insurance than their benefits plan provides.
If you are one of them, feel free to contact us directly at firstname.lastname@example.org or give us a call at 778.855.1969 (our free consultation line) for an exact quote. Alternatively, you may Chat Live with our insurance specialist by clicking on the bottom right corner of the screen. We will evaluate your existing benefits plan booklet, coverage, and summarize them for you to provide the most cost and tax effective options to ensure sufficient coverage.