A type of insurance schedule in which coverage is determined by the insured's earnings.
Employee Assistance Program (EAP)
A program designed to help employees and their families through confidential counselling.
Employee Benefit Program
A program of benefits provided to employees by the employer. All benefits - aside from salary or wages - are included, such as group life and health plans, retirement plans and vacation days. Sometimes they are called “fringe benefits”.
Employee Pay All Benefit
A benefit within a group which the insured pays the premium.
The process of explaining a proposed group plan to eligible persons and helping them complete their applications for coverage under the plan.
Evidence of Insurability
Proof of a person’s physical condition and/or factual information about a person’s health that might affect insurance acceptability.
A standard feature of contracts issued by every company is the list of items that are not covered by the contract. These should be pointed out to the buyer in the delivery interview.
Refers to the premium claim history of a given risk. The larger the risk, the more valid the ratio of claims to premiums. Generally, to arrive at rates that commensurate with expected losses, small risks are pooled and evaluated as a group to determine the experience.
Extended Health Care
Form of insurance which provides, in one policy, protection for hospital and medical expenses not covered by provincial health care programs. It usually includes other health care expenses such as prescription drugs, medical appliances, ambulance, semi-private or private coverage and nursing.