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

10 Things You Should Know About The Chamber's Group Insurance Plan

The Chambers of Commerce Group Insurance Plan provides employee benefits to over 33,000 business owners in Canada. The Chambers Plan offers affordable and accessible benefits to businesses with as little as one employee. So, here are ten things you should know about the Chambers Plan!

  1. No Minimum Firm Size

    1. The Chambers Plan was introduced to protect small businesses of various sizes. The plan can offer coverage to home-based businesses and growing companies of up to 50 employees

  2. No Industry Restrictions

    1. All for-profit businesses are eligible to participate in the Chambers Plan as long as they are members of a participating Chamber of Commerce or Board or Trade

    2. The Chambers does not believe that your industry should determine your coverage, therefore they can provide the benefit plan that is best for the specific needs of your business and employees

  3. Guaranteed Approval

    1. Firms with as little as one or two employees can choose options with guaranteed coverage

    2. Businesses with five or more employees can choose extensive dental coverage

    3. Groups with ten or more employees can add children’s orthodontics

  4. Guaranteed Renewable

    1. Your business is guaranteed renewable coverage as long as you pay your premiums each month

    2. Chambers makes this easy by offering one automatic payment to renew your Chamber membership and Plan premium

  5. Rate Stability

    1. Claims are averaged over more than 30,000 companies, just like yours

    2. The Chambers uses a pooling concept on health and dental benefit claims

    3. Small fluctuations to a firm’s claims do not automatically factor into the rates giving firms a greater opportunity for rate stability over the long term

  6. Not-For-Profit

    1. Chambers Plan operates under the direction of the not-for-profit Chambers of Commerce Insurance Corporation of Canada

    2. All surpluses are put back into the plan, keeping your premiums low!

If you’re wondering how you can become a Chambers of Commerce Group Insurance Plan member, give us a call! We can help you determine the plan that is best for you.

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

Pros and Cons of Working Remotely

As a business owner, how do you decide if you are willing to allow your employees to work remotely? On the plus side, it allows your employees the flexibility to manage their work-life balance, however it’s harder to track time and collaborate with co-workers when employees are not in the office.

We found an article to help break down remote workspaces further.

Pros:

  1. Hire talent beyond your traditional reach. By hiring employees who work outside of the four walls of your office, you can tap into a talent pool that wouldn’t otherwise be accessible.

  2. If you run a small business and you’re looking to save money on a physical workspace, allowing your employees to work remotely can be a great solution. Your employees can work from home, scheduling phone calls or videoconferencing to check in at any time.

  3. Increased employee retention is also a positive in allowing employees to work from home. Millennials place great importance on work-life balance and not having to commute to work each day can be seen as a very important perk.

Cons:

  1. It can be very hard to keep your employees motivated and focused when they are not located in an office. It takes a very self-motivated person to successfully work from home, so it is important to set clear deadlines and expectations for those employees who do not check into the office each day.

  2. Although you will save cost on leasing a physical space, you will need to invest in collaboration software. It’s important to keep in touch with your team, so be sure to have a reliable program to keep track of projects and time.

  3. It is important to create a company culture that is carried through to remote workspaces. Keep your employees engaged be ensuring they are invested in the company goals and culture.

Looking for more information? Check out the original article here:

Gold Key Benefits Group
4732 91 Ave NW, Edmonton, AB T6B 2L1
+1 877-277-0677
http://www.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