5 Reasons to Sign up for a Life Insurance Policy

Have you always thought about signing up for a life insurance policy, but haven’t quite gotten around to it yet? We get it! Countless people put life insurance off because see themselves as young and healthy, they don’t want to pay the premiums, and they tell themselves they will consider it later.  

Life insurance can help you to look after your family, your assets, the things you care most about, and even your business. We found a really great article that points out he benefits of having a life insurance policy and we compiled our favourites into an easy to read list for you! Check them out:

1.      Provide income for your family when you are no longer able – If you experience a tragic accident and you aren’t able to provide for your family, a life insurance policy can replace your income to ensure your loved ones are taken care of.

2.      Eliminates debt at an important time -If you have a large amount of debt, your life insurance policy will pay off what you owe after you have passed, just another way to ensure your loved ones are well taken care of.

3.      Leaves a legacy of value – You don’t always have to purchase a life insurance policy for yourself; some people purchase policies on the lives of their children, which can be transferred directly to the child when he/she turns 18. This provides a tax-free legacy for future generations.

4.      Ensures the continuity of your business – Your policy can help to ensure your business lives on even after you have passed.

5.      Help to make meaningful donations – If you have the desire to help your favourite charity, you can donate the proceeds of your life insurance policy after your passing.

If you’d like to look into a life insurance policy or have questions about signing up, give us a call! We can help you to understand the different types of coverages available to you and we can get you signed up in a timely manner!

 

To read the full article, click here

Benefits of an Employee Assistance Program

Have you ever thought of implementing an Employee Assistance Program (EAP) into your company?

Some employers look at added benefits like EAP as just an additional expense, but have a program designed to help your employees through personal struggles can be a great investment into your staff and into the well-being of your organization. 

So what is an Employee Assistance Program? 

It is an employer-paid service that provides 24-hour confidential counselling to employees and their dependents. EAP programs can provide around the clock care to people regarding marital issues, mental health and wellness, child care and elder care referrals, alcohol and drug problems, legal and financial advice, grief and trauma assistance, and many other personal conflicts. 

So why will an EAP benefit your company?

It has been shown that employers who invest in their employees yield a positive return. When your employees are taken care of and feel they have an employer they can trust, they are more eager to come into work, to work more efficiently, and are motivated to go above and beyond expectations. 

Further to this, providing resources to employees that encourage their well-being will decrease absenteeism and increase employee productivity. When employees are overwhelmed by personal problems, they are much less productive at work. With the EAP program, your employees are able to speak to a trained counsellor who can provide them with the tools to effectively manage any personal turmoil they are currently experiencing. 

In conclusion:

Employee Assistance Programs are designed to improve the lives of your employees at no extra cost to them. By providing this service as a part of your group benefits program, you are investing in your people and are allowing them the space to thrive in their personal and professional lives, leaving to a more effective and efficient workplace. 

If you're interested in setting up an Employee Assistance Program in addition to your benefits, give us a call. 

If you are a member of the Chamber of Commerce Group Insurance Plan, your group benefits package already include an Employee Assistance Program and we are happy to provide you with the details. You and your employees might be unaware of this program, but we can provide you with written materials to pass out to staff. 

Gold Key Benefits Group
4732 91 Ave NW, Edmonton, AB T6B 2L1
+1 877-277-0677
goldkeybenefits.com

How to Deal with the Legalization of Cannabis in the Workplace

If you're like many other Canadian employers looking for ways to ensure workplace safety with the legalization of cannabis, this blog is for you. 

The Canadian Centre for Occupational Health and Safety released a document last June that provides suggestions and guidelines for businesses to follow once legalization occurs. We curated some of the most valuable aspects of the document and will highlight them for you in this post. 

  1. Canadian employers have a duty to provide a safe work environment and take all reasonable precautions to protect the health and safety of employees and others in the workplace. Due diligence is demonstrated by the employer’s actions before an event occurs, not after.
  2. To establish due diligence, an employer will have written occupational health and safety policies in place to establish any hazards around the workplace. The employer must then inform all employees about potential hazards and take the necessary actions to correct them.
  3. In the case of cannabis use and the workplace, the employer should consider workplace policies and programs as they may relate to impairment from any source such as fatigue, life stresses, alcohol, medications (used legally or illegally), cannabis (recreational or therapeutic), or any other substance.

It is important to tailor the policy to meet the specific needs of the workplace. Elements of the policy could include:

  1. that arrangements have been made for employee education (e.g., a general awareness regarding disability due to substance dependence)
  2. statement regarding if either medical/therapeutic or non-medical substances are allowed on the premises, or under what situations they would be allowed
  3. a mechanism for employees’ to confidentially report when they have been prescribed a medication that may cause impairment
  4. statement of the employee’s rights to confidentiality
  5. statement of who is covered by the policy and/or program
  6. definition of what the employer considers to be impairment
  7. definition of substance use
  8. statement of the purpose and objectives of the program
  9. that arrangements have been made for educating and training employees, supervisors, and others in identifying impaired behavior and what steps will be taken
  10. provisions for assisting those with disability due to substance dependence
  11. processes for accommodation, and return to work/remain at work planning
  12. if applicable, statement of under what circumstances substance testing will be conducted, as well as the criteria for testing and interpretation of test results
  13. provision for a hierarchy of disciplinary actions 

Having policies in place to prepare your company for the legalization of cannabis is important. We will be posting more from the document in our next post, but we hope you find this helpful in regards to policies and procedures. 

To read more, click here.

Gold Key Benefits Group
4732 91 Ave NW, Edmonton, AB T6B 2L1
(780) 328-6514