Insurance Brokers Association of BC
As a member of the IBABC, member firms have the opportunity to enroll in a superior quality employee benefits program available only through this association. IBABC member firms are able to customize benefits to suit their specific needs with a number of unparalled plan designs available.
If you currently have a plan in place and are looking to “bring over” specific benefits and/or limits to the IBABC plan, we are able to customize the benefits and/or “grandfather over” those details.
Not a member of the IBABC?
Plan Features
The IBABC plan design has some of the highest benefit maximums and non-evidenced maximums available in the market today.
- one-times-annual earnings
- two-times-annual earnings
- flat amount of benefit
*Living Benefit standard on all plans, maximum amount of $50,000
*Employee Optional Life Insurance available
*Spousal Optional Life Insurance available
Coverage for both your spouse/partner and/or dependent children.
- Choice of limits available
*Two-year survivor benefit without premium payment
Benefit maximum will usually match the Life Insurance benefit amount.
*Optional AD&D coverage available for your spouse/partner and/or dependent children.
*Includes an additional $50,000 AD&D Insurance when travelling outside of Canada.
Some of the highest benefit and non-evidenced maximums available in the market today.
Long-Term Disability benefit includes a benefit for Partial Disability
- Cost of Living Adjustment included (C.O.L.A.)
- Survivor Benefit – three-times LTD benefit amount
- Retraining and re-employment benefits (rehabilitation)
- Drug Plan – 100% reimbursement and no prescription drug limit
- Paramedical Services benefits are per person/per service with some of the highest benefit maximums in the market today
- Includes – Specialty Drug Plan with preferred pharmacy provider
- Travel Assist – $5 Million per person/year – included
- Critical Illness available
*All plans include a “Pay Direct” prescription drug card
*Electronic claims submission by employee (web portal) or at the pharmacy
*Benefits extended to age 80 if enrolled before age 65
*Survivor benefit – 24 months
Benefit maximum(s) can be: per service/combined maximum/annually.
Dental benefit includes:
- Routine Dental Services including: diagnostic, preventive, minor, restorative, endodontic, periodontics, and some oral surgery
- Major Restorative Services including: prosthodontics and major restoration (crowns and bridges)
*Benefits extended to age 80 if enrolled before age 65
*Survivor benefit – 24 months
$5,000,000 coverage for trips up to 6 months in length.
100% out of province emergency medical (Travel Assist) with a wide range of medical services and supplies, including semi-private hospitalization.
Cost Plus is a cost efficient and tax effective means of supplementing existing health and dental care plans for small and medium sized businesses. You never pay for coverage you do not use or need; there are no monthly premiums to pay.
Cost Plus covers all health-related expenses eligible under the Canada Revenue Agency Income Tax Act.
*Available to all Member Firms
IBABC Member Firms are eligible to participate in a customized Group Registered Retirement Savings Plan.
Further information available by calling our office.