New coverage marks a first for group insurance in Canada
Quebec City, QC (Feb. 18, 2015) – Group insurance leader SSQ Financial Group is set to launch an exclusive new critical illness insurance product in March. The new product will feature three separate coverage options, making it the most generous, comprehensive, and flexible group insurance product available in Canada: Basic (6 illnesses), Complete (24 illnesses), and Total (40 illnesses).
This will make SSQ Financial Group the only insurer in Canada to cover auto-immune diseases and 40 critical illnesses, in addition to requiring a survival period of just 14 days.
“SSQ Financial Group’s critical illness insurance lineup is a testament to our core values and commitment to developing products tailored to the needs and realities of today’s consumer,” said Carl Laflamme, Senior Vice-President of Group Insurance.
Also within the past year, SSQ Financial Group launched compassion insurance—the first of its kind worldwide. This product allows employees to stop working temporarily to care for a gravely ill loved one and receive benefits to compensate for lost income. A number of SSQ’s group insurance customers are already offering this innovative product to their employees.
On January 20, 2015, Employment and Social Development Canada presented the report from the Employer Panel on Caregivers, which showed that employers are “surprised and concerned that [caregiving] already affects 35% of the Canadian workforce.” Furthermore, “they see the need for a thoughtful and focused approach to the issue within their organizations.” SSQ Financial Group’s compassion and new critical illness products are two excellent solutions for helping employers cope with this issue.
About SSQ Financial Group
With a business volume of $3 billion and over $11 billion in assets under management, SSQ Financial Group is a leading mutual diversified financial institution in Canada.
The Group serves over one million clients and provides jobs to nearly 2,000 employees. SSQ, Life Insurance Company Inc., the Group’s principal company, is recognized as a leader in the group insurance industry and as an expert in the investment and retirement sector. SSQ Financial Group is also a rising star in home and auto insurance under the SSQ General Insurance Company Inc. banner and has expanded into the individual insurance market thanks to its subsidiary, SSQ Insurance Company Inc.
For more information, please visit ssq.ca.
Source: SSQ Financial Group