Insurance Portfolio Financial Services is now offering clients of VFIS, who are self-employed volunteer firefighters, a comprehensive package that includes life, health, dental and disability coverage. Coverage is also available if you have up to 4 staff (plus yourself). In order to be eligible, you must have a legally incorporated company, sole proprietorship or partnership, and you must have been in business for a minimum of one year, working a minimum of 24 hours per week.
Premiums are not age dependent, and coverage is available until age 70 or retirement (whichever comes first). Coverage includes:
- $25,000 of life insurance
- $25,000 of accidental death & dismemberment coverage
- $5,000 of life insurance for your spouse/$2,500 of life insurance for each dependent child
- Prescription drug coverage – $2,000 per person per year – 80% coverage
- Paramedical coverage – $400 per person per practitioner per year – 80% coverage
- Orthopedic shoes/orthotics – $250 per person per year – 80% coverage
- Hearing aids – $400 per person every 5 years – 80% coverage
Optional coverage includes:
- Basic dental coverage – $1,000 per person per year – 9 month recall – 80% coverage (includes examinations, cleaning, polishing, x-rays, fillings, space maintainers, extractions, anesthesia, endodontics (root canal therapy), periodontics (treatment of gums & other tissue of the mouth), repairs or relining and rebasing of dentures)
- Long Term Disability – 4 month waiting period, 60% coverage to a maximum monthly benefit of $1,500 if unable to work due to a disability – to age 65
Monthly Premiums (updated for 2013):
- Life Insurance, Dependent Life Insurance, Accidental Death & Dismemberment coverage, Extended Health Care coverage
|Single Coverage – $58.75||Family Coverage – $121.20||Exempt Coverage – $15.00|
|Single Coverage – $67.25||Family Coverage – $159.60||Exempt Coverage – $15.00|
|Single Coverage – $45.45||Family Coverage – $112.35|
|Single Coverage – $44.75||Family Coverage – $115.75|
- Long Term Disability
$2.85 per $100 of benefit to a maximum of $1,500 of coverage
(Some occupations are not eligible for disability coverage due to the nature of the risk)
If you are have any questions about the coverage, please do not hesitate in contacting Chris Gory at either 416-754-3910/1-800-773-8638, or chris @ canadianemployeebenefitplans.ca.
If you are interested in the coverage, a few forms need to be completed:
- A master application
- An enrollment form (to be completed by each employee to be covered on the plan)
- A health evidence form (to be completed by each employee to be covered on the plan)
(If there are any questions about the forms, please do not hesitate in letting Chris Gory know.)
You will also need to include a cheque for the first month’s premium (the premium total plus a $10 monthly administration fee, plus PST).
Completed forms should be sent to:Chris Gory Insurance Portfolio 10 Milner Business Court, Suite 800 Toronto, ON M1B 3C6
We appreciate your interest in our self-employed volunteer firefighter health and dental coverage, and please do not hesitate in letting us know if you have any questions.