BY: NANETTE GOZUTOK (PARTNER, INTEGRITY INSURANCE PLANNING)

There is so much to say that people really need to know.  I have just spoken to a person who has $800 in drugs costs each month.  Trillium does not work for her and she has nowhere to turn to help with the costs.  Her pharmacist is actually trying to get the drugs company to provide her with the drugs free of charge. 

 There are several issues here:
 
The majority of Canadians do not understand that Group Benefits are temporary.  They can be taken away at any time and if you have medical costs you are then left to cover them yourself.
 
Not all drugs are covered by the government, I am getting more and more calls from retirees whose drugs are not on the provincial formulary list and therefore not covered by the government.
 
Health and Dental insurance, and more importantly, disability insurance needs to be purchased when you are healthy.  This lady I have just been speaking to cannot work due to her illness, she did not have disability and therefore has no income to assist with her drugs costs.
 
The average cost for cancer drugs which usually need to be taken for up to 5 years is $500 per month.  Some Canadians are under the impression that they are covered by the government and they are not.
 
Disability is so important, we need to make people understand that.
 
Let’s see if we can help some of these people.  Put into perspective, the cost of your disability insurance could be the price of a couple of meal out each month and no one seems to think twice about that!

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If you are self-employed, and looking for benefits, what should be your priorities and why?

Insurance Priorities for the Self-Employed family

For the self-employed family without a traditional benefit plan, what should be the priority sequence of coverage choices, as the income of the business and the family increases?

If you were an employee of a corporation, you would likely be provided a benefit plan that includes some levels of

• Life Insurance
• Disability Insurance
• Medical coverage (Health Spending Accounts & catastrophic medical coverage)
• Dental Coverage

With our Integrity planning process, there are ways to help us address all these areas, while maintaining your budget.

Many self-employed families are extremely budget conscious, and we tend to look at solutions for “what is hurting now”, seeking pieces of the benefit puzzle only as the need arises. This is a very dangerous way to go about the process.

What if we were to take out a dental plan only, and in six months, we become disabled?

Without income, will the dental plan replace the money the family needs to live on?

We don't know what can happen, and the devastating effect on our savings

Will there in fact, even be money available to continue to pay the premium even for the dental coverage?

Without income, all the hard work we did to grow our business can be lost in a short time. Therefore, it is very important to look at the big picture at the outset! Discussing these areas with a qualified Insurance Planner is vital to protecting you and your family.

Insurance Planning must be done with integrity – that is completeness, honesty, and with your budget in mind! All issues must be addressed from the start, with several plans and insurers considered, and the most appropriate solutions examined.

Please contact us at 1-866-856-6799 (extension 201 for Craig, and 204 for Nanette) to discuss your needs further.

Craig Ferguson

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So, you have become self-employed, or you no longer have benefits at work, or you have never had benefits, and maybe that root canal is pending at the dentist?

Ok, so what to do?

That is the issue, isn’t it?

What to do and who to trust?

Well, I like to consider myself a kind of ‘tell it like it is’ kind of guy. You might already know me…..if you are a hockey fan in Hamilton or the GTA. I run the site, Make it Eight, eh?.

I saw where injustice and greed had beaten out common sense and compassion. Put those things together, and I’m there. Much to the chagrin of others around me that might think my time better spent making money.

Oh well, sometimes the causes are the justification.

But back to benefits.

You are not sure what your greatest risk is, and if it is truly a good idea to put a good chunk of change into medical and dental insurance.

To make a long story short, you are unique, but the principles of insurance – whether life, disability, or medical and dental – are the same.

Where is the greatest financial risk to you and your family? If we cover off this risk in an effective, common sense manner, our goal is to ensure you are not suffering from an illness or other unfortunate event that made you consider insurance benefits in the first place.

If you live in Ontario or Alberta, Canada, we are a call away : 1-866-856-6799. Or email us at integrityinsuranceplanning@gmail.com.

Give us a call, and see if we are what we say we are…..caring people that don’t mince words.

Oh, we represent several insurers so you know we will find the cost effective solutions, not biased or driven to promote one company only.

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