With many lawyers continuing to practise beyond traditional retirement age, not all employee benefits plans will cover them throughout their extended careers, says Dawn Marchand, vice-president of marketing and direct distribution for the Canadian Bar Insurance Association (CBIA).
That’s why Lawyers Financial, the new brand of CBIA, has developed a benefits package with the legal profession in mind, Marchand tells AdvocateDaily.com.
“Lawyers often continue working into their 70s and beyond,” she says. “In response to that trend, we offer life and accident insurance to the age of 80, which, under a group plan, is quite novel. Also, health and dental coverage will continue as long as you’re working full time.”
Plus, the enhanced plan extends lower group rates to smaller companies with three to 20 employees — giving them a competitive advantage when trying to compete with larger firms, says Marchand.
