MHR 523 Lecture Notes - Lecture 11: Critical Illness Insurance, Pension, Life Insurance
14 Nov 2016
School
Department
Course
Professor
Document Summary
May include supplementary health and life insurance, vacation, pension, education plans, and discounts on company products. A federal program that provides income benefits if a person is unable to work through no fault of his or her own. Does not apply to those on short-term contract or fired for just cause. Amount of payment varies according to jurisdiction and circumstances: Severance pay (ontario and federal jurisdiction only) Employer must guarantee same or similar job when employee returns. Programs that provide basic level of security on retirement. Income and medical benefits to victims of work-related accidents or illnesses, regardless of fault. Minimum amount of paid vacation must be provided to employees. Group plans offer lower rates and inclusion of all employees. Employee usually pays a yearly deductible amount. Usually includes prescription drugs, private/semi-private hospital rooms, other health costs not covered by provincial plans. May include dental, vision care, hearing aids.
