Employee Benefits

Employee Group Life, Health, and Retirement benefit benefits are an increasingly important part of total employee compensation. A quality benefits program is a valuable tool in developing your workforce strategies and a crucial component of your business’ growth and success.

Value of an Employee Benefit Program

An employee benefit program has value for both employer and employees, most notably to:

  • Attract talented, quality employees to support an organization's growth and development
  • Assure product and service continuity as well as minimize retraining costs by retaining employees
  • Protect employees from loss of income due to disability and medical expenses not covered by a provincial plan
  • Provide employees with tax-effective compensation
  • Utilize tax assisted retirement plans to help employees meet their retirement goals

Flexible Options

As your business grows, enters new markets, and meets ever-changing financial conditions, your Nakamun Group consultant will seek to balance your organization’s unique circumstances to develop programs custom-designed to meet your needs. Your program may include:

  • Group Life Insurance
  • Group Long Term Disability
  • Group Critical Illness
  • Health, Dental and Drug Plans
  • Employee Assistance Programs
  • Health Care Spending Accounts
  • Group Retirement Savings Plans

Developing an Employee Benefit Program

Whether we are developing a new employee benefit program or adapting an existing one, the Nakamun process includes the following steps:

  • Understand the goals and direction of the organization
  • Survey the products of major group insurance companies and analyze the products from three perspectives:
    1. Premium costs
    2. Policy language and coverage
    3. Claims procedures, other service standards, and technology
  • Design an employee benefit program that meets the organization's needs

Our Continuing Services

Once we have developed the employee benefit program that best helps the organization to support its objectives, manage costs, and minimize program administration tasks, we offer the following on-going services:

  • Implementation support including communication with employees and training of a program administrator
  • Continued contact to ensure satisfaction
  • On an annual basis, a formal review of the plan including:
    • details of claims experience in the previous policy year and an analysis of rate calculations
    • update of the Retirement Plan to ensure compliance with guidelines for Group Money Accumulation Pension and RRSP Programs
    • recommendations for necessary adjustments to ensure the organization’s needs continue to be met
  • Plan administration services such as enrolment of new employees, premium accounting, and issuing of branch billing statements may also be provided

Your Nakamun Advisor

Your Nakamun Advisor is an independent consultant who will provide you with knowledgeable, well-informed, objective advice and appropriate recommendations specific to the needs of your organization and your employees, now and in the future.

Whether your operations are local, national, or international, your Nakamun Group consultant brings a unique blend of objectivity and creative problem solving techniques to you. As a business you face many day-to-day challenges. Gain peace of mind in knowing you have a flexible, cost-effective program that makes sense for your company and your employees.