Employee Benefit Plans

One type of insurance program available through R.W. Penson Financial is employee benefit plans for businesses with between 2 to 100 employees or more.

Employee turnover is a problem for businesses that have spent a lot of time and money training new employees. A benefit plan is an excellent tool to attract and retain quality employees.

All of the major insurance companies offering employee benefits in Ontario are represented by R.W. Penson Financial.  In certain circumstances we work in partnership with Pace Consulting Benefits and Pensions Ltd.

The process of designing an employee benefit plan to fit the needs of your company allows for a lot of flexibility. No one set of benefits fits the need of businesses and their employees so you can customize a plan to provde the basics or we can design a top notch executive style program.

The types of benefit you can offer employees through these plans include:

  • Prescription drug coverage
  • Extended health care (medical services and supplies not covered by OHIP)
  • Semi-private and private hospital accommodation
  • Out of province emergency medical care
  • Dental coverage – preventative and basic, major restorative and orthodontics
  • Vision care
  • Group term life and accident insurance for employees, spouses, and children
  • Weekly indemnity or short term disability insurancee
  • Long term disability insurance
  • Critical illness insurance
  • Health spending accounts

Ususally coverage is available for all of your employees without the need to complete a medical questionairre.  The more people that participate in the plan the lower the rate per employee - with a larger group of people there is likely to be a broad range of age.

The employers or plan sponsor must pay at least 50% of the premium minimum.  

We can customize a program to meet the needs of your employees and your company's budget since there are many options available.


Contact us for more information.