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Posts from the ‘Living Benefits’ Category

8
Sep

Recover Your Long Term Care Costs

Will your family be affected by the costs of caring for an aging loved one?

Statistics Canada states that over 350,000 Canadians 65 or older and 30% of those older than 85 will reside in long term care facilities.  With increasing poor health and decreased return on investments, the fear of facing financial instability in your declining years is real.

How will this impact your family?

Caring for an aging parent or spouse takes its toll emotionally and financially.  Adult children with families and job pressures of their own are often torn between their obligations to their parents, children and careers.  This often results in three generations feeling the impact of this care. Read more »

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11
Aug

1 in 3 Canadians Will Become Disabled Before the Age of 65

What you need to know about your Group Long Term Disability
Having a source to replace your earned income in the event of an illness or accident is vital considering that on average, 1 in 3 Canadians will become disabled for a period of more than 90 days at least once before the age of 65.  For those that are disabled for more than 90 days the average length of that disability is 2.9 years.

If you are one of the approximately 10 million Canadians covered under a group Long Term Disability plan (LTD) it’s important to understand what your coverage provides. Don’t wait until after you’re disabled to read the employee handbook, because you could have a few surprises! Read more »

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10
Aug

Start a family conversation about elder care

BY David Wm. Brown and Sarah Brown

Starting a conversation about someone’s age is a sure way to be the least popular person in the room. But while this is a no-go territory for cocktail party chatter, it’s a conversation you need to have with your parents.

Statistics Canada tells us that in 2007, people aged 45 to 64 paid for 75% of elder care. And now, a new generation is realizing that when their parents need long-term care, they’ll be called upon to fund it.

Read more

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8
Jun

Workers unprepared for financial impact of disabilities

Most Canadian workers would suffer severe financial hardship if they were forced out of work with a disability.

In fact, 76% believe that should they become disabled and unable to work for three months, there would be serious financial implications for their family, such as significant debt or an impact on retirement plans, finds an RBC Insurance survey.

Despite the concern, only 27% have discussed how a disability would financially impact their family. This number does not increase substantially among workers who’ve indicated that they’ve taken time off in the past because of a disability (33%).

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Used with permission from Benefits Canada Magazine
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