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Insurance OptionsSole proprietors, professionals and businesses with less than ten employees find it costly and difficult to obtain individual or group insurance products. At MediDirect® we are committed to sourcing out and providing products designed for individuals or small groups that are group rated, and therefore the most cost efficient for small business. By choosing which products serve your needs and your employee’s needs, you can assemble a full benefit plan providing maximum coverage for less than maximum cost. Our insurance options are open to our clients as well as employees of companies that do not have a group or individual plan and would like coverage on their own. The policies listed below are guaranteed issue which means that medicals are not required. Loss of Income (Disability) Insurance
What happens if you become ill or injured? For self-employed persons in particular, you must work at your business as its long term viability depends on you. You will likely choose to work through illnesses which somewhat negates the full benefit of disability insurance that is normally offered toyou. Another major factor is the cost of full disability insurance. Why is Disability Insurance Costly and Full disability insurance covers the risk of disability from both "illness and sickness" and from "accident and injury". Premiums for the "illness and sickness" portion are up to 80% of the total cost of disability insurance, while the "accident and injury" portion is approximately 20% of the cost. If you are not likely to use "illness and sickness" coverage, then why pay for it? This can be separated to provide less comprehensive but cost effective coverage which meets the more practical needs of the self-employed who need to work, even if ill or partially injured. MediDirect® offers an "Accident and Injury Only" disability insurance which can be combined with Critical Illness Insurance to provide a lower cost option but which is not as comprehensive as a full disability insurance policy. Remember, full disability insurance covers illnesses and sickness that prevent you from working as well as accident and injury. Accident and Injury Only disability insurance provides coverage for physical bodily harm caused by a mishap or event which is not expected. It does not cover disease or sickness, an unhealthy condition of the body, an impairment of normal physiological function or infection. When you purchase Loss of Income Insurance, you will be given the option to add on Accidental Death & Dismemberment Insurance (AD&D). This is a value added option that provides 24 hour protection, anywhere in the world, for accidental loss of life, limb, eyesight, speech, hearing, or loss of use of limbs, plus many other benefits. Critical Illness Insurance
Critical Illness Insurance pays out a lump sum cash amount upon diagnosis and survival of at least 30 days, of covered illnesses. The amount paid out can be used for any purpose. Critical Illness Insurance is not based upon your inability to work nor does full recovery affect your payout. Critical Illness insurance bridges the gap between life and disability insurance. Where life insurance policies pay out upon death and disability insurance policies cover lost wages due to an accident or sickness, critical illness policies cover the insured upon diagnosis and survival of an illness.
Catastrophic In Country Medical Insurance and
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Our Quote on Demand system allows you to obtain a quick estimated premium cost for your policy. No personal information is required unless you decide to proceed with a formal application. |
For MediDirect® business and sole proprietor clients, this cost-effective combination insurance provides stop-loss protection for major expenses resulting from a serious injury or sickness sustained in Canada. The emergency travel insurance covers you and your family while traveling outside your home province and internationally, whether on business or personal travel.
For MediDirect® clients holding a Health Spending Account, we recommend purchasing individual, non-group insurance that covers prescription costs. In most cases, the amount claimed through this insurance for prescription drug coverage exceeds the dollars paid in premiums which provides good value for your money. The remaining uninsured portions (i.e., deductibles or coverage limitations) can be reimbursed through your HSA, and the premiums are an eligible expense. Please contact us for help in selecting the plan that best suits your needs.
The pricing and quotes provided on this system are not guaranteed by any insurer and may not be current with respect to recent rate or plan changes by insurers. The completion of this questionnaire does not guarantee quoted rates or coverage to be provided by any insurer until applications are submitted and approved by the appropriate parties.
