Although Life Insurance claims can be larger than most other types of Insurance, they typically occur within predictable ranges. Funding of Life Insurance with a group smaller than 1,000 people is risky. One bad year could be result in catastrophic costs which a company simply could not handle. By utilizing its strongest tool, the Co-operative, Beneplan can take advantage of the stability and predictability of large volumes of people and provide risk-free Life Insurance to all its corporate members. The Co-operative has an agreement with The Co-operators Life Ins Co that will refund excess premiums to the Cooperative in favourable claims years. The refund resulting from the Life Insurance pool is then distributed to members of the Co-operative. Beneplan guarantees to match or beat existing rates.
Benefits Management in hard times.
Don’t let your benefits plan evolve according to the pace of others. Contact the Beneplan to discover how we can help with the management of your group benefits.