What is a Medical Trust?
An MT is a wide-ranging customized employee benefit program combining features of a Health & Welfare Trust (HWT) and a Private Health Services Plan (PHSP). It is an arrangement between an employer and its employees where the employer agrees to provide one or more benefits for the employees and/or their families. Beneficiaries of the MT can be current, past, or retired employees, or a family member of such an employee.
Why a MT Solution with Serre Financial?
Again, we focus on details that other miss. In contrast to competitors, we’re experts at structuring these trusts to satisfy both the client’s specific long term needs and CRA scrutiny. We help clients look ahead to import ant needs they might not anticipate for themselves and their key personnel. For example, ‘key man insurance’ that offers funds to cope with loss and cost of replacing key employees after the client has left their business, or living benefits like Long Term Care (LTC), Critical Illness (CI) or Disability Insurance (DI). With premiums paid with business dollars, our MTs help redirect funds that would go to the CRA and invest them in solutions that protect a client’s future interests. And as always, our focus is on value and finding the highest net benefit to the client
Consider the Highlights:
• Plan customization integrating all key factors and goals of the client
• Important benefits such as: ‘key man insurance’ that offers funds to cope with loss and cost of replacing key employees after the client has left their business
• Corporation pays and deducts premiums for living benefits insurance such as critical illness, disability and wage loss replacement/longterm care for owners and/or its employees
• Corporation offers and deducts premiums for its employee health, medical, and dental benefits
• Corporation offers and deducts premiums for either, or both, applicable insurance premiums and medical, health, dental benefits for its retired employees
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