Federated Insurance Employee Benefit Plan

Federated Insurance offers several insurance coverages for employers and their employees.

These include life insurance, key person insurance, disability insurance, critical illness insurance, accidental death and dismemberment insurance, dependent life insurance, short-term and long-term disability, extended health and prescription drug coverage, dental coverage, critical illness coverage, HSA health spending account, Acumin, Arive employee assistance program (EAP), and coreHealth+.

The key person insurance offers a tax-free death benefit that could be used for recruiting and training expenses and also repayment of debt. The coverage may be used to replace lost profits incurred while the employee is being trained.

Life insurance pays a lump sum to the insured’s beneficiaries to replace income loss when the employee passes away. Accidental death and dismemberment insurance provide a tax-free benefit that can help to replace lost income. Dependent life insurance pays the employees a tax-free benefit in the event of the spouse or a dependent child.

To learn more about Federated Insurance employee benefit, click here.

Employee Benefit News

In August 2017, Canada’s highest court scheduled to announce whether it will hear an appeal over the cancellation of a motorist policy that resulted in convicting an individual of driving without insurance.

The Court of Appeal for Ontario released a ruling that restored an arbitrator’s decision to allow Federated Insurance Company of Canada to argue that Patrick Cadieux was insured by Intact Insurance company. This is irrespective of the fact that Cadieux was convicted of driving without insurance after being involved in a collision.

According to the court record, Cadieux was originally insured by Intact but the insurer canceled the policy for non-payment of premium before the accident took place. Cadieux collided with a truck on April 25, 2010, while driving with his car. Cadieux’s son was in the vehicle and the truck driver was insured by Federated Insurance.

According to Justice David Doherty of the Court of Appeal for Ontario in its unanimous ruling in early 2017, the son’s claim was submitted to Intact and the insurer is paying accident benefits. Furthermore, judges James MacPherson and Peter Lauwers all concurred with Justice Doherty.

The Court of Appeal for Ontario restored an arbitrator’s ruling that Federated Insurance is allowed to argue that Intact did not properly cancel Cadieux’s policy. According to Justice James Diamond of the Ontario Superior Court of Justice, Federated wanted to lead evidence that because Intact had not followed the appropriate procedures when purporting to cancel the policy, Cadieux was insured at the time of the accident by Intact.

To learn about Canadian Federated Insurance employee benefit, click here.