Orooj Financial
What is Group Insurance?

“…an arrangement to provide insurance coverage for a group of persons under a single contract, without individual risk selection, and under terms and conditions more favorable than those otherwise obtainable by these persons as individuals.”

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Concept of Group Insurance

If you are like most people you own fire insurance on your home. Do you think your house will catch on fire tomorrow? So why do you own fire insurance?
The fact is that fire can cause a catastrophic financial loss. Similarly, nobody expects to be injured, or become ill tomorrow. However, if this does occur it subsequently causes a catastrophic financial loss.

A comprehensive employee benefits program is a low cost solution that can provide protection for the employee and employer from catastrophic financial losses due to illness or injury.

Advantage – Employer vs Employee
Advantages for Employer
  • Attract & Retain high quality employees
  • Establish a company policy in the event of the death or disability of an employee
  • Tax effective compensation
  • Improve employee morale
  • Promote health and wellness
Advantages for Employee
  • Basic protection for the employee & family
  • Less expensive than individual insurance
  • Higher standard of healthcare than otherwise possible
  • Eliminates added stress and keeps employees motivated
Typical Group Benefits:
  • Employee and dependant term life insurance
  • Accidental death & dismemberment (AD&D)
  • Critical Illness
  • Long and Short term disability
  • Medical reimbursement plan (tax loop hole)
  • Employee Assistance Program
  • Dental & Vision care
Base Benefits:
  • Life Insurance (Salary Based Benefits Available)
  • Accidental Death & Dismemberment (AD&D)
  • Extended Health Care (pays above government plan)
Supplementary Benefits:
  • Dependent Life
  • Short and Long Term Disability (Income replacement)
  • Dental care

Why Group Insurance:
Making a strong statement:
  • Shows concern for employees and their families
  • Demonstrates management responsiveness
  • Makes a strong statement that says:
    • “We are an established company”
    • “We value employees”
A cost-effective Approach
  • Tax deductible business expense
  • Employer contributions don’t reduce disposable income
  • Health and dental benefits are received tax free by employees
  • Can be paid via payroll deduction (employee contribution)
We will help with:
  • Day to day questions, concerns
  • Annual program reviews, plan performance and plan design management
The insurance company will provide support with…
  • Comprehensive, easy-to-understand administration kit
  • Clear, detailed monthly billing statements
  • Toll-free access to customer service professionals

Don’t give a raise to your employees ……
Give them benefits instead
A comparison cost:
Employer              VS.              Employee
  Raise Employee Benefits Raise Employee Benefits
Increase $1050 $1050 $1050 $1050
EL $28.00 N/A $20.00 N/A
CPP $52.00 N/A $52.00 N/A
WSIB $22.99 N/A N/A N/A
Payroll Tax N/A N/A $200.00 N/A
Total $1152.99 $1050 $778.00 $1050
Get Expert Advice from Our Professionals
with 15+ Years of Experience
  • Licensed Insurance Advisor
  • Certified Health insurance specialist (CHS)
  • Chartered Life Underwriter (CLU)

Here are some of the most notable honors Zahid Syed has received in recent years
- Top producer for the Agency since 2001
- Member of The Million Dollar Round Table (This organization has the top 1% of financial professionals in the world)
- Industrial Alliance Vice President Award since 2001
- Industrial Alliance Elite Club Member
- Diamond Award from Industrial Alliance in 2006
- VFG Gold Club Award for 2006
- Person of the Month for Community Newspaper