HR Services by Continuum II

Did you know that Continuum II now offers HR services

Group Benefits: HR and Administration Issues

Please join Peter Andreana and Andy Balaura on January 30th at 7:30am in a discussion focused on the issues they have both seen around Employee Benefits, many of which most people are unaware of. You will walk away with important information and tips you can start to implement in your HR immediately. See below for more details, along with registration info.

What would you do for better retirement benefits?

What would you do for better retirement benefits?

A recent survey finds that more than half of Canadians are worried about retirement.

When asked, 77% of Canadians said they would consider leaving their job, with all else equal, for better retirement benefits.

As an employer, these statistics should be alarming. If you had seven out of ten of your employees wanting to leave your company, it's time to make a change.

Acknowledging the desire Canadians have for an attractive retirement package, employers can take the opportunity to reevaluate their current offerings. By making even the smallest changes to your retirement offerings, it could help to retain current talent and become more attractive to new prospects.

More specifically, mid-sized to smaller companies should take note of what's being done by their larger competitors. A defined pension plan is something often offered by larger companies and is something that mid-sized companies may want to consider to help make their business more appealing to employees.

Ultimately, if reevaluating you retirement benefits is in the cards for your company, it is important to ask for your employees input. You might be surprised what they may want, or what they may forgo, to help provide security in retirement.

Critical Illness Insurance

A survey of Canadians across the country shows a disconnect between the likelihood of a critical illness and planning for the financial implications such an illness could bring to the average Canadian family. 

According to the survey,

Based on the above, more than half of Canadians are concerned about what may happen financially in the event of a critical illness. Despite the concern, three out of four Canadians are not physically, financially and emotionally prepared for a critical illness in the family.

As your financial advisors we are here to help secure your financial well-being and help you to plan for your future. If you are looking for additional protection on top of life insurance, Critical Illness Insurance is one of the things we suggest.

What is Critical Illness Insurance? This form of insurance pays out a lump sum cash payment should the insured be diagnosed with a critical illness. The money could then be used to help cover the costs associated with a life-altering illness, or replace lost income or any number of things.

Why consider Critical Illness Insurance?

• Can help to reduce the stress a serious illness can take on your mental, physical and financial well-being.
• The lump sum payout could be used for costs of living expenses including paying your mortgage or day to day bills.
• It could help you to maintain your independence by assisting in the payment of treatments or services not covered by your typical heath care plan.

What is covered? Critical Illness Insurance, although it differs from plan to plan, typically covers up to 24 various illnesses and conditions including;

• Cancer
• Heart Attack
• Stroke
• Blindness
• Alzheimer's
• Multiple Sclerosis
• Organ Transplants
• Kidney Failure
• Paralysis

Note: Coverage may also vary according to the degree of severity of, or conditions associated with, your illness or disease.

If you have never considered Critical Illness Insurance before, the time is now. Don't fall into the same gap that 50% of your fellow Canadians have. 

We want to help. Contact us today for more information or a quote.

Visit criticaluncovered.ca and take the quiz to see how your readiness stacks up.

Physical and Financial Health

A healthy life, helps for a healthy wallet.

Eating well can boost your overall health and help you feel your best. When you feel your best, it is reflected in all aspects of your life, and yes that includes your financial health.

Building a healthy lifestyle into your financial plan is important for everyone, whether you are retired or still working. We would like to highlight the importance of a healthy lifestyle and it's overall impact on your financial health.

By working to maintain a healthy lifestyle it can help reduce the possibility of needing to reach into your own pocket to cover medical expenses that are not covered by a benefits plan. Extending a healthy lifestyle into the workplace, and into your home, can help boost your overall performance. Good nutrition and a healthy active lifestyle, can make you feel more energized, which can help relieve stress and improve cognitive functions. In feeling more alert and energized, you are also more likely to make better financial decisions.

To help you get started on boosting your overall health, our in-house nutrition guru Taylor Gray suggests taking these steps towards building a healthier lifestyle. 

1. Pledge to make a small, nourishing change and stick with it, one meal at a time.
2. Make your goals S.M.A.R.T.
3. Post your healthy eating goals in the kitchen and at your desk to keep healthy eating top of mind.
4. Monitor your progress with a food diary or an app like eaTracker so you can stay on track.
5. Share your goals. Enlist your family and friends to support, not sabotage, your new habits.

 Starting improving your overall health today.

Follow and 'like' us on Facebook to read all of Taylor's tips and see how we are implementing them in our office!

10 Traits To Look For In An Employee Benefits Advisor

As a result of the Affordable Care Act, employers are now looking for their advisors to do more than just provide them with a quote. To help us get an idea of what you are looking for EBN (Employee Benefits News) has complied a list of the top 10 things that employers look for when searching out an employee benefits advisors. Which ones hit the top of your list?

1. Tenure: An advisor who has been in business for a reasonably long time. Tenure provides a sense of reassurance that the advisor has witnessed changes in the industry and can better relate to your specific business.

2. Vision: Someone who sees the bigger picture while still able to maintain a realistic scope of vision.

3. Market Commitment: You need an advisor who has a commitment and deep domain knowledge of your industry and business size. A business with 200 employees will want to work with someone adept with mid-sized employers.

4. Communication: Seek out an advisor that can easily communicate complex issues in the simplest terms.

5. Independence: A quality advisor will have positive, strong relationships with insurance carriers.

6. Technology: It is no longer enough to know benefit plans, pricing, underwriting, features, claims or great communication methods; these have become givens. A top advisor will know reliable technologies, which will help with the employee life cycle.

7. Strategic Alliances: A truly valuable benefit advisor knows what is within their own discipline, and when to call in a specialist. 

8. Data: Look for an employee benefits advisor who recognizes valuable data.

9. Creativity: There is a difference between vision and creativity. Vision refers to identifying the trends of the industry, while creativity is coming up with new ways of dealing with trends. Pursue an advisor that can do both.

10. Challenge-Challenge-Challenge: A really good advisor will always challenge the "way we've always done it" conversations (considering an outside-the-box- option). Always look for someone who is willing to challenge insurance companies, their own thinking,  the client's thinking and the way it's always been done.

To read the full article click here

If you have any questions regarding your benefits plan-contact us today- we are everything you're looking for in a benefits advisor.

Transferring your life insurance policy..is it right for you?

Are you a Shareholder thinking of transferring your life insurance policy to a Private Corporation? Before taking action, you may want to consider the following..

ORPP vs. DC RPP

The Ontario Retirement Pension Plan (ORPP) is a new government plan that is set to begin implementation January, 2017.   Designed to address the gaps in workplace pension coverage while providing a predictable source of retirement income for life, the ORPP aims to provide greater financial security for Ontario workers. More specifically, the ORPP will work towards supplementing those not covered by a Defined Contribution Registered Pension Plan (DC RPP) or a Defined Benefit Registered Pension Plan (DB RPP).  Participation in the ORPP will be mandatory for all employers and employees in Ontario, unless there is a "comparable" workplace plan already in place.

The following chart outlines the differences between the two types of pension plans. IF you don't already have an RPP we encourage you to take note of the benefits outlined below.

Definition of a comparable plan:

• Provides people with a predictable stream of income for life
• Provides people with security (they won't outlive their savings)
• Requires contributions form employers to ensure fairness
• Aims to replace up to 15% of a person's pre-retirement income

Comparable plans

• DB - must match or exceed the benefit being offered through the ORPP
• DB earning-based - must be at least 0.5% to be considered comparable
• DC - most have a minimum total contribution of 8% of base salary earnings, employers required to contribute at least 50% of the total minimum
• Hybrid plans - annual DB accrual rate of 0.5% plus annual DC contribution rate of 8% ≥ 1
• Flat-Dollar/Flat-Benefit plans - will be assessed for comparability by expressing the benefit rate as a percentage of earnings.

Group RRSPs and DPSPs are not comparable plans

Have questions?  Need more clarification just reach out to your Continuum II advisor today and let us help you find the optimal solution for your business. 

For more information you can also visit the Ontario.ca website

Manulife's Quick Issue Term Insurance

Buying a house? Renewing your mortgage? Or in need of a quick and easy term insurance to cover yourself and your family?

If you are between the ages of 18 and 50, Manulife’s Quick Issue Term could be your answer to fast and easy mortgage, or life, insurance to cover your family. Optional coverage includes a children’s protection rider and the application does not require blood and urine testing, with fewer medical questions.

Answer the following questions and you can get quick and easy coverage anywhere from $100,000 to $500,000.

1.  In the past 60 days, have you consulted a doctor or other health practitioner or had medical testing done for anything other than pregnancy or minor ailments? (For example, sprains, cold or flu?)

2. In the next 90 days, do you have medical tests scheduled or recommended for anything other than pregnancy, routine immunizations, flu shots or minor ailments (for example, cold or flu?)

3. In the past two years, has a doctor or other health practitioner recommended counselling or recommended a treatment or medication that lasted longer than one month?

4. In the past 12 months, have you visited a dentist for routine dental care?

Simply call our office at (905) 332-6633 and complete the online application with either Dania or Lori. Please have the following information ready and the application process can simply be done over the phone.

• Banking information, including transit, bank code and bank account information
• Driver’s license information
• E-mail address

You will need to provide your electronic signature and your first payment will come directly out of your bank by EFT. All subsequent payments can then be paid monthly from your account, or you can choose to pay them annually and Manulife will send you an invoice for the balance of the funds required.

The good news is Manulife responds to your application, in most cases, within one business day. If you are approved for coverage, your contract and beneficiary form will be mailed to you directly by Manulife in as little as one business day– saving you time. You will be responsible for returning the beneficiary form to Manulife following the instructions provided.

For more on Manulife's Quick Issue Term Insurance check out the video below.

If you have any questions regarding Manulife's Quick Issue Term Insurance, or about your existing coverage, please don't hesitate to call the office.

Employment Standards Act - What You Should Know

There is that saying ... Knowledge is Power. There is so much truth in that, especially when it comes to employees and employers. There are rights afforded to all workers and it is important for everyone in the workplace to know the rules and rights.

At Continuum II Inc. we wanted to share some very important information about workplace rules, rights and regulations.

The Employment  Standards Act, also known as the ESA, is a law that sets minimum standards for workplaces in Ontario. It covers a range of employment standards including:  minimum requirements for workplaces; provisions to assist employees with family responsibilities; increased flexibility in work arrangements; and mechanisms for compliance and enforcement.