Do you have a Professional Group Benefits Advisor? The team at Naviguide are Professional
Advisors. The amount you pay for a broker or a Professional Advisor is the same.
A Professional Advisor will:
- Review how you run payroll to ensure your plan is tax optimized and T-4 boxes 14, 40 and 85
are all properly attributed - Review your HR processes and documents. The Professional will then help you add wording to
ensure your process and documentation all properly support your benefit plan - Review your Corporate Liability Insurance to ensure you have the correct coverage to support a
benefit plan - Be your first call if you have any questions outside of the ordinary
- Be a member of Canadian Group Insurance Brokers (CGIB) and of Advocis
Please read on for additional differences.
Most Brokers will:
- Collect your data
- Get competing quotes from a long list of insurers
- Send renewals
- A good one will present renewals
- May help with some client issues
A Professional Advisor Will:
- Take on a consulting attitude to understand your goals, needs, employees and philosophies
- Know the insurers will be a fit for your situation. It is never just about price to a professional. The contract and suitability of the insurer are important to ensure long term viability of your plan
- Provide education sessions for your employees and for your admin team to reduce any liabilities
- Answer questions in a timely manner
- Act on your behalf should any claims issues arise with the insurance company
- At your annual review, discuss the trends and plans usage, present the renewal and suggest possible changes when appropriate
- Disclose your plan’s internal fees in as much detail as possible at time of quote and at each renewal. (The fees plus your claims make up your premiums)
- Review your HR practices to ensure you are up to current benefit plan standards and have minimized related liabilities
- And so much more……
When interviewing advisors ensure they provide all of these services.
If you would like more information please contact us.
