Insurance / Group Benefits
Group Benefit Plans for Small Businesses
Health, dental, life and disability coverage for your employees, designed around your team and your budget. We compare plans from several insurers and look after the setup and renewals for you.
Good benefits help you hire and keep good people, and they cost less than most owners expect. A group plan gives your team coverage for everyday health costs and protection if something serious happens, at group rates that are usually lower than buying individual plans.
What a group plan can include
Health and prescription drugs
Help paying for prescriptions, plus paramedical care such as physiotherapy, massage therapy and chiropractic.
Dental care
Check-ups, cleanings and fillings, with optional coverage for major dental work and orthodontics.
Vision care
Eye exams, glasses and contact lenses.
Group life insurance
A tax-free payment to an employee’s family if they die, often with accidental death coverage included.
Disability insurance
Short-term and long-term income replacement if an employee cannot work because of illness or injury.
Health spending account
A set yearly amount each employee can use for eligible health and dental costs, so you control the budget.
Why offer group benefits
Hire and keep good people
Benefits are one of the first things candidates ask about, and they give employees a reason to stay.
Tax-efficient pay
Employer-paid health and dental premiums are generally a deductible business expense and are not a taxable benefit for employees outside Quebec.
Lower cost than individual plans
Group rates and simpler approval mean better coverage for less, often without medical questions for each employee.
How we set up your plan
- Understand your team. We learn how many employees you have, what matters to them and what you want to spend.
- Compare insurers. We get quotes from several providers and show you the options side by side.
- Set it up. We handle the application, employee enrolment and booklets.
- Review every year. At renewal we check your rates and coverage and re-market the plan if the price goes up too much.
Frequently asked questions
How small can my business be?
Many insurers offer plans for very small teams, including owner-operated companies with only a few employees. The minimum size depends on the insurer, so tell us about your business and we will find the options that fit.
Do employees have to pay part of the cost?
That is up to you. Some employers pay the full premium, and others share the cost with employees. We can show you how each choice affects your budget and your employees’ take-home pay.
Can I cover myself as the business owner?
Yes. Owners can usually join the plan along with their employees, and a group plan or health spending account can be a tax-efficient way for owners to pay for their own health and dental costs.
What if I already have a plan?
We can review your current plan and renewal, and compare it with other insurers to see whether you can get better coverage or a lower price.
Talk to Devendra Kumar, Financial Planner (CLU, CHS)
DK Insurance & Investments Inc. serves families across the GTA from offices in Vaughan, Mississauga and Brampton. Call or text +1-647-761-0517 for a free, no-obligation conversation.