Every Working Canadian Needs a Balanced Benefit Plan
It’s an unfortunate fact that a substantial percentage of working Canadians don’t have a benefit plan or are under-insured for their needs, leaving them exposed to significant financial risk when the odds of experiencing a life-altering injury or illness are greatest.
No matter where you work, what you do, or how much you earn, having a comprehensive benefit plan is the most important investment you can make to safeguard your long-term financial security.
1 Statistics Canada: https://www150.statcan.gc.ca/t1/tbl1/en/tv.action?pid=1410002701
Over 1/3 of the Canadian workforce is self-employed1
50% of Canadians don’t have an employer-sponsored group benefit plan1
33% of Canadians who experience a disability are affected longer than 90 days, with the average duration being 37 months1
1 in 2 Canadians will experience a disability during their career1
Protect Your Earning Power Now to Safeguard Your Financial Future
To most people, ‘benefits’ is synonymous with Health & Dental coverage. While Health & Dental benefits serve a valuable role in keeping day-to-day medical expenses manageable, a comprehensive benefit plan actually includes both short-term AND long-term protection so a sudden health event doesn’t turn into a financial catastrophe.
In terms of your overall Financial Security, the small amount of reimbursement provided by Health & Dental benefits only amounts to about 1% of the protection needed to ensure you can continue to make ends meet and provide for your loved ones regardless what life throws your way.
Your ability to earn a steady income is truly your most valuable asset.
Benefits are 1 of the 3 Core Pillars of Financial Independence
Protecting your financial stability
during your working years
Saving for retirement
to maintain your standard of living in your golden years
Providing for your loved ones
in the event of premature death
Protecting Your Financial Stability Should be Your #1 Priority
Canadians have been conditioned to invest in RRSPs because Old Age Security likely won’t be sufficient — or may not even be available — when they reach retirement. While retirement savings are a key element of being financially independent, protecting your current cash flow actually has the greatest significance for your long-term financial stability.
Adapting insurance to your age
The risks of financial setbacks are greatest during your working years. Not only are the odds of experiencing an injury or illness more significant, there’s also a lot more at stake: mortgage payments, car loans, a family that depends on you, financing your children’s education and even keeping your business running. Without a steady cash flow and a reliable safety net, a sudden medical emergency could have dire consequences.
Secure lower premiums today for financial security down the road
As you get older, eligibility for some types of benefits decreases while premiums can increase. By investing in a flexible benefit plan at an earlier age, you can secure lower premiums, adapt your protection as life’s priorities evolve and establish your financial independence before experiencing a medical emergency.
The Edge Benefits makes it easy, quick and affordable for Canadians to protect themselves, their families and their employees with customizable benefit plans that grow with your changing lifestyle.
Contact us to get free advice on an appropriate benefit plan for your needs.Request Info
Did you know?
While 1 in 10 Canadians aged 15 to 64 have a disability, 1 in 3 people aged 65 or older have a disability. With Canadians working longer and having families later in life, it’s important to get coverage that protects you during your working years and continues into retirement.
Did you know?
If you saved 5% of your income for 10 years, that entire safety net could be wiped out in just 6 months of disability! Investing in a benefit plan can cost as little as a cup of coffee per day and protect your earning power for your entire career.