Accident & Sickness

This is a type of insurance that could be referred to as health benefits. It does not cover your personal or business property. Critical Illness, Disability, Group Benefit Plans, Dental and Excess Medical Insurance would all be included.

This type of coverage can be purchased for the owner of a company and/or the employees of the company. There are many different types of packages with varying coverages and deductibles.

This can also be called Accident and Health Insurance. It can even pay for loss of income, in case of sickness, accidental injury, or accidental death. This type of insurance covers the medical and dental expenses that are not covered by the provincial health plans.

Examples of this coverage would include dental, prescriptions, chiropractic, massage therapy, eyeglasses, hearing aids to name but a few.

If you do participate in such a plan then your share of contributions is considered part of the medical expenses on your income tax return. Talk to your accountant in this regard.

This type of insurance requires special licensing and your regular broker or agent may not be able to provide what you need. Do check with them to see if they can help you address these needs or refer you to someone who can help.