Protecting your people

Astute business owners have come to realize it’s the people they employ that drive their success. They understand well-trained and happy employees are vital to the company’s prosperity. With comprehensive employee benefit options, life insurance, disability insurance, critical illness insurance, and more, we can help ensure you maintain employee satisfaction and keep your business competitive in the job market.

How can you protect yourself and your employees?

As a business owner, you try to manage all the risks that your business might experience. It’s natural to try to control everything but some things are out of your hands — for instance, someone vital to your business could pass away or you could be diagnosed with a critical illness. These events could have a negative impact on the business you’ve worked so hard to build. There are numerous insurance solutions available to ensure both you and your employees are protected.

Federated Insurance is proud to offer the following insurance coverages to you and your employees:

LIFE INSURANCE

Having an adequate amount of life insurance can help finance ownership partnership agreements and protect corporations against the loss of key employees who are essential to your day-to-day business operations. We’ve partnered with a third-party provider to offer a full suite of life insurance solutions to protect your business’ financial future. Depending on your needs, our life insurance is available on a temporary or permanent basis with the proceeds paid tax free to the beneficiary.

KEY PERSON INSURANCE

You may have someone who’s integral to helping you run your company, a “right hand man”, if you will. If that person were to die or become disabled, it would significantly impact your operations. By purchasing Key Person Insurance, you would receive a tax-free death benefit that you could use towards possible recruiting and training expenses, as well as repayment of debt. The coverage can also be used to replace any lost profits while the new employee is being trained and brought up to speed.

DISABILITY INSURANCE

Protecting your income while suffering from a debilitating injury or sickness is critical. Long and short-term disability insurance will help alleviate some of the financial stress that can build up. Protecting your income gives you the opportunity to focus on getting better and getting back to work without the worry of your finances being adversely affected.

CRITICAL ILLNESS INSURANCE

After being diagnosed with a critical illness, money is the last thing you want to worry about while you recover. Critical illness coverage provides a tax-free lump sum cash payment if you find yourself facing this situation. It can be the financial cushion you need to help ease the financial worry during your time of illness.

What are Group Benefits?

In today’s competitive work environment, offering a Group Insurance Plan can help you attract, retain, and reward good employees. We’ve partnered with third-party providers to offer flexible and comprehensive group insurance plans for you and your employees.

A Group Insurance Plan generally offers the following insurance features:

Life Insurance

Provides a tax-free payment to beneficiaries to help replace the loss of income that occurs when an employee passes away.

Accidental Death and Dismemberment Insurance

After a sudden accidental death or the sudden loss of a limb, this coverage provides a tax-free benefit that can help replace resulting lost income.

Dependent Life Insurance

With this coverage, a tax-free benefit is given to the employee if their spouse or dependent child suddenly dies.

Short-Term and Long-Term Disability

This coverage is designed to protect an employee’s income in the event a disability prevents them from continuing to work.

Extended Health and Prescription Drug Coverage

This coverage pays for a variety of health care expenses, from hospital stays to prescription medications, including travel accident insurance.

Dental coverage

This coverage can be customized to your company’s dental needs.

Federated Insurance is also proud to offer some innovative employer benefits not commonly found in the industry:

Critical Illness Coverage

If an employee or their dependents are diagnosed with a covered critical illness, a tax-free lump sum benefit will be provided to the employee. It can be used for any purpose, including subsidizing the cost of out-of-country treatment, paying down debts, or taking a vacation with the family while dealing with the disease.

HSA Health Spending Account

An innovative plan that provides a tax-advantaged solution allowing incorporated companies to deduct health and dental expenses. HSA Health Spending Account is designed to reimburse health and dental expenses to owners and employees on a non-taxable basis.

Acumin

This helps business owners manage their employees and performance issues by providing HR solutions, including training, coaching, professional counseling services, and post-traumatic intervention. Acumin is included in every group benefit plan offered by Federated Insurance.

Arive Employee Assistance Program (EAP)

EAP puts concrete measures in place to reduce/manage company health care costs. Employee assistance services include face-to-face psychosocial counseling and telephone counselling for legal or financial difficulties, for problems associated with childcare, and for the care of elderly parents.

coreHEALTH+

A healthcare plan designed to meet the needs of small incorporated companies with as few as one employee and no industry exclusions.

Can we help you with risk management?

Yes! Our Risk Service Specialists can work closely with you to provide the advice, support, and training you may need to analyze the potential risks to your operation. Knowing the exposures your business could face can go a long way in helping you avoid future losses.

Our Risk Services Specialists are available to help you create a customized action plan that will address those issues and help you protect your bottom line. Whether it’s sharing our risk management observations on your current business, potential new locations, and business acquisitions, or providing you with timely tools and resources, we’re here to help you be as successful as possible.

Ready to learn more about how Federated Insurance can help your business?